Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com. ValuEngine is a fundamentally-based quant research firm in Newtown, PA.

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May 29, 2012 Holding weekly pivots indicates strength into Fridays employment data. The Key Levels for the US Capital Markets 10-Year Note (1.740) My semiannual pivot is 1.903 with my monthly pivot at 1.734, the Sept 23rd low yield at 1.671 and daily, weekly, quarterly and semiannual risky levels at 1.710, 1.556, 1.407 and 1.385. Comex Gold ($1568.9) My annual value level is $1525.8 with weekly, annual and weekly pivots at $1565.0, $1575.8 and 1596.6, and daily and semiannual risky levels at $1595.3, $1635.8 and $1659.4. The 50-day and 200-day simple moving averages are $1631.2 and $1692.6. Nymex Crude Oil ($90.86) Daily and semiannual value levels are $89.82 and $79.83 with a weekly pivot at $92.64 and quarterly, annual, semiannual and monthly risky levels at $101.55, $103.58, $104.84 and $108.53. Crude oil is below its 200-day SMA at $96.43. The Euro (1.2515) My monthly value level is 1.2257 with daily and weekly pivots at 1.2568 and 1.2526, and semiannual and quarterly risky levels at 1.2980 and 1.3366. My Fearless Prediction for the Week - The weekly charts registered sell signals on May 11th and last week the Dow Industrials reached my initial downside target My annual value level at 12,312. Weekly closes above 12,312 indicate a short-term rally to my quarterly pivots at 12,794 Dow Industrials, 1337.7 S&P 500 and 2911 NASDAQ. To negate the longer term sell signals the S&P 500 would have to have a weekly close above my annual pivot at 1363.2. The next objective to the downside is to my annual value level at 2698. Daily Dow: (12,455) My annual value level at 12,312 was tested and held at last Wednesdays low. A daily value level is 12,335 with weekly a weekly pivot at 12,411, and quarterly, monthly and annual risky levels are at 12,794, 13,354 and 14,032. The 200-day simple moving average is 12,233. S&P 500 (1317.8) Weekly and daily value levels are 1303.4 and 1298.8 with quarterly, annual and monthly risky levels at 1337.7, 1363.2 and 1397.0. Weekly closes below 1363.2 provided the signal for the downside to 12,312 on the Dow. NASDAQ (2838) Weekly, daily and annual value levels are 2799, 2777 and 2698 with quarterly, monthly and annual risky levels at 2911, 3041 and 3232. A weekly close below 12,312 Dow targets 2698 on the NASDAQ. Dow Transports (5080) Daily and semiannual value levels are 4951 and 4407 with a weekly pivot at 5055, and monthly and quarterly risky levels at 5385 and 5420. The all time high was set at 5627.85 on July 11, 2011. Russell 2000 (766.41) Weekly and daily value levels are 748.79 and 747.64 with monthly, quarterly and annual risky levels at 813.56, 829.34 and 836.88. The all time high was set at 868.57 on May 2, 2011. VE Morning Briefing If you want expanded analysis of the US Capital Markets go to this link and sign up: http://www.valuengine.com/nl/mainnl?nl=D