Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com.

ValuEngine is a fundamentally-based quant research firm in Newtown, PA. ValuEngine covers over 7,000 stocks every day. A variety of newsletters and portfolios containing Suttmeier's detailed research, stock picks, and commentary can be found http://www.valuengine.com/nl/mainnl To unsubscribe from this free email newsletter list, please click

http://www.valuengine.com/pub/Unsubscribe? May 2, 2013 – Negative divergences persist in Transports and Small Caps.
10-Year Note – (1.638) Weekly, monthly, annual and semiannual value levels are 1.758, 1.945, 1.981, 2.476 and 3.063 with a daily pivot at 1.653, and semiannual risky level at 1.413. Comex Gold – ($1455.1) The 200-week SMA is $1440.6 with daily, weekly, monthly, annual, semiannual, quarterly and annual risky levels at $1497.3, $1481.0, $1566.7, $1599.9, $1719.2, $1808.3 and $1852.1. Nymex Crude Oil – ($90.95) Monthly and quarterly value levels are $88.34 and $79.66 with a weekly, daily, monthly and annual risky levels at $94.40, $95.61, $98.93 and $115.23.

The Euro – (1.3186) Daily, weekly, semiannual and quarterly value levels are 1.3112, 1.3001, 1.2797 and 1.2169 with and annual and monthly risky levels at 1.3257 and 1.3597.
A weekly close below my semiannual value level at 14,323 Dow Industrials signals a market top. The S&P 500 has been trading back and forth around its semiannual pivot at 1566.9. Dow Transports has also been testing annual and semiannual pivots at 5925 and 5955. The Russell 2000 has yet to test its semiannual risky level at 965.51. For May I show monthly value levels at 14,651 Dow Industrials and 3233 NASDAQ with a monthly pivot at 1587.3 S&P 500, and monthly risky levels at 6284 Dow Transports and 962.82 on Russell 2000. My annual value levels at 12,696 Dow Industrials, 1348.3 S&P 500, 2806 NASDAQ, 5469 Dow Transports and 809.54 Russell 2000 will be tested in 2013. <P/> Daily Dow: (14,701) Monthly, semiannual, quarterly and annual value levels are 14,651, 14,323, 13,755 and 12,696 with daily and weekly risky levels at 14,883 and 15,111. S&P 500 – (1582.7) Semiannual, quarterly and annual value levels are 1566.9, 1448.7 and 1348.3 with a monthly pivot at 1587.3, and daily and weekly risky levels at 1620.9 and 1615.1. NASDAQ – (3299) Monthly, quarterly and annual value levels are 3233, 3106 and 2806 with daily and weekly risky levels at 3366 and 3335, and semiannual risky level at 3583. NASDAQ 100 (NDX) – (2873) Quarterly, monthly and annual value levels are 2819, 2750 and 2463 with a weekly pivot at 2877 and daily risky level at 2924. Dow Transports – (6035) Annual, monthly, semiannual and quarterly value levels are 5925, 5960, 5955, 5469 and 5324 with daily, weekly and monthly risky levels at 6155, 6303 and 6284. Russell 2000 – (924.21) Annual and quarterly value levels are 860.25, 809.54 and 807.82 with daily, weekly, monthly and annual risky levels at 952.41, 961.25, 962.82 and 965.51. The SOX – (440.80) Monthly, quarterly, and annual value levels are 419.92, 357.61 and 338.03 with a weekly pivot at 436.31 and daily risky level at 456.20. Dow Utilities: (532.16) Quarterly, monthly and semiannual value levels are 524.16, 509.53 and 474.63 with daily, weekly and annual risky levels at 536.74, 545.18 and 540.37.

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