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

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Mar 14, 2014 Dow, Nasdaq, Russell 2000 are below pivots at 16,245 / 4272 and 1180.35!

The Dow Industrials, S&P 500, Nasdaq and Russell 2000 now have negative daily charts with Dow Transportations still has a positive but overbought daily chart. We have not seen a new high since Friday. Monday was the five year anniversary or the market lows of March 2009 and the last set of new high were last Friday. The Dow Industrial Average remains below its all-time high set on Dec. 31 at 16,588.25. The S&P 500 set its all-time intraday high at 1883.57 on Friday, March 7. The Nasdaq set its multiyear intraday high at 4371.71 last Thursday, March 6. The Dow Transportation Average set its all-time high at 7627.44 on Friday, March 7. The Russell 2000 set its all-time high at 1212.82 on Tuesday, March 4. Dow Industrials: (16,109) Weekly and annual value levels are 15,855, 14,835 and 13,467 with a semiannual pivot at 16,245, a daily risky level at 16,489, the Dec. 31 all-time intraday high at 16,588.25 and monthly, quarterly and semiannual risky levels at 16,644, 16,761 and 16,860. S&P 500 (1846.5) Weekly, semiannual and annual value levels are 1824.1, 1797.3, 1764.4, 1539.1 and 1442.1 with the March 7 all-time intraday high at 1883.57, and daily, quarterly and monthly risky levels at 1889.5, 1896.0 and 1930.7. NASDAQ (4260) Semiannual and annual value levels are 3930, 3920, 3471 and 3063 with semiannual and weekly pivots at 4274 and 4279, a daily risky level at 4364, the March 6 multiyear intraday high at 4371.71 and monthly risky level at 4567. NASDAQ 100 (NDX) (3651) Semiannual and annual value levels are 3456, 3458, 3078 and 2669 with weekly and quarterly pivots at 3690 and 3715, a daily risky level at 3727, the March 6 multiyear intraday high at 3738.32 and monthly risky level at 3925. Dow Transports (7481) Weekly, semiannual, quarterly and annual value levels are 7282, 7376, 7245, 7086, 6249 and 5935 with the March 7 all-time intraday high at 7627.44 and daily and monthly risky levels at 7763 and 7802. Russell 2000 (1176.74) Weekly, semiannual and annual value levels are 1160.69, 1133.29, 1130.79, 966.72 and 879.39 with a quarterly pivot at 1180.35, a daily risky level at 1213.61, the March 4 all-time intraday high at 1212.82 and monthly risky level at 1253.12. The SOX (565.14) Quarterly, semiannual and annual value levels are 536.98, 490.52, 371.58 and 337.74 with semiannual, monthly and weekly pivots at 548.36, 561.69 and 569.51, the March 7 multiyear intraday high at 577.64, and daily risky level at 581.85. Dow Utilities: (519.13) semiannual, annual and quarterly value levels are 504.74, 497.53 and 496.84 with monthly and daily pivots at 510.88 and 516.20, and semiannual, weekly and annual risky levels at 524.37, 525.00 and 548.70.

The yield on the US Treasury 10-Year note (2.647%) moved below its 21-day, 50-day and 200-day SMAs at 2.717%, 2.768% and 2.668% with my quarterly pivot at 2.628%. The weekly chart shows this yield below its five-week MMA at 2.731% with its 200-week SMA at 2.420%. The yield on the US Treasury 30-Year bond (3.592%) is above below its 21-day, 200-day and 200day SMAs at 3.670%, 3.713% and 3.694%. The weekly chart shows this yield below its five-week MMA at 3.683% with its 200-week SMA at 3.540%. Comex Gold ($1371.8) remains above its 21-day, 50-day and 200-day SMAs at $1333.8, $1283.8 and $1302.4 on a positive but overbought daily chart and my monthly pivot has been tested at $1373.0 with a quarterly risky level at $1385.0. The weekly chart is positive but overbought with its 5-week MMA at $1311.1 and the 200-week SMA at $1492.6. Nymex Crude Oil ($98.23) is below its 21-day, 50-day and 200-day SMAs at $101.65, $98.38 and $100.15. The weekly chart is negative with its five-week MMA at $99.68 and the 200-week SMA at $93.28. The Euro (1.3868) has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at 1.3768, 1.3673 and 1.3479 with my monthly risky level at 1.4112. The weekly chart is positive with its five-week MMA at 1.3745 and the 200-week SMA at 1.3331. To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact me at RSuttmeier@gmail.com.