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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http://www.valuengine.com/pub/Unsubscribe? August 27, 2012 Technicals are mixed for the major equity averages.
10-Year Note (1.683) Daily, semiannual and quarterly value levels are 1.789, 1.853 and 1.869 with weekly, monthly and semiannual risky levels at 1.561, 1.468 and 1.389. Weekly closes with the yield above the fiveweek modified moving average at 1.649 favors higher yields. Comex Gold ($1671.8) Semiannual, weekly, annual and monthly value levels are $1643.3, $1638.1, $1575.8 and $1525.3 with daily, semiannual and quarterly risky levels at $1681.7, $1702.5 and $1805.8. The weekly chart stays positive on a weekly close above the five-week MMA at $1620.6. Nymex Crude Oil ($95.93) My monthly value level is $90.40 with daily, weekly, annual and quarterly risky levels at $98.37, $98.60, $103.58 and $107.63. The weekly chart stays positive on a weekly close above the five-week modified moving average at $92.08. The Euro (1.2507) Monthly and weekly value levels are 1.2237 and 1.2006 with a daily pivot at 1.2537. My semiannual risky level at 1.2917. The weekly chart stays positive on a weekly close above the five-week modified moving average at 1.2406. The Dow Industrials, S&P 500, NASDAQ and the Russell 2000 have positive weekly charts, while Dow Transports have a neutral weekly chart. The major averages straddle weekly risky levels / pivots at 13,196 Dow Industrials, 1415.0 SPX, 3050 NASDAQ, 5051 Dow Transports, and 806.83 Russell 2000. Daily Dow: (13,158) Annual and semiannual value levels are 12,312 and 10,738 with weekly, daily, monthly and risky levels at 13,196, 13,208, 13,625 and 14,032. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 13,035. S&P 500 (1411.1) My annual value level is 1363.2 with weekly, daily, and monthly risky levels at 1415.0, 1420.1 and 1458.2. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 1387.3. NASDAQ (3070) Annual and semiannual value levels are 2698 and 2527 with a weekly pivot at 3050, and daily, monthly and annual risky levels at 3112, 3194 and 3232. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 2992. Dow Transports (5119) Weekly and semiannual value levels are 5051, 4449 and 4129 with daily, and monthly risky levels at 5231 and 5373. The weekly chart profile shifts back to positive on a weekly close above the five-week modified moving average at 5124. The all time high is 5627.85 set on July 7, 2011. Russell 2000 (809.19) My semiannual value level is 686.25 with a weekly pivot at 806.83, and daily, annual and monthly risky levels at 826.68, 836.15 and 846.16. The weekly chart profile stays positive with a weekly close above the five-week MMA at 800.00. The all time high is 868.57 set 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