SUTTMEIER on the US CAPITAL MARKETS

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Todays Daily Markets Briefing By Richard Suttmeier Dec. 24, 2014

Market
The Dow
S&P 500
Nasdaq
Naz 100 (NDX)
Transports
Russell 2000
Semis (SOX)
Utilities

Date

YTD

31-Dec

Market

Date of

% Off

Risky

Value

23-Dec
18,024.17
2,082.17
4,765.42
4,279.30
9,150.06
1,202.44
695.32
617.86

Gains
8.7%
12.6%
14.1%
19.1%
23.6%
3.3%
30.0%
25.9%

Price
16,576.66
1,848.36
4,176.59
3,592.00
7,400.57
1,163.60
535.03
490.57

Highs
18,069.22
2,086.73
4,810.86
4,347.09
9,319.33
1,213.55
704.44
620.63

Highs
12/23/14
12/23/14
11/28/14
11/28/14
11/28/14
7/1/14
12/8/14
12/23/14

High
-0.2%
-0.2%
-0.9%
-1.6%
-1.8%
-0.9%
-1.3%
-0.4%

Level
18,522
2,094.6
4,784
4,410
9,418
1,292.59

Upside
2.8%
0.6%
0.4%
3.1%
2.9%
7.5%

Level
14,835
1,539.1
3,471
3,078
6,249
966.72
371.58
497.53

%
Down
-17.7%
-26.1%
-27.2%
-28.1%
-31.7%
-19.6%
-46.6%
-19.5%

New highs for the Dow 30, S&P 500 and Dow Utilities! The Dow 30 set a new all-time intraday high at 18069.22
just above its quarterly risky level at 18045. The S&P 500 set a new high at 2086.73 within the range of semiannual,
monthly and quarterly risky levels at 2080.3, 2089.3 and 2094.6, respectively. Dow Utilities set a new high at 620.63.
The Major Equity Averages are Above Their Five-Week Modified Moving Averages Keeping the Santa Claus
Rally Intact. The five-week MMAs are 17536 Dow Industrials, 2033.5 S&P 500, 4675 Nasdaq, 8903 Dow Transports
and 1165.84 on the Russell 2000. All remain overbought on their weekly charts.
To signal a potential technical correction there needs to be weekly closes below all five-week modified moving
averages with the 12x3x3 weekly slow stochastic readings declining below 8.0.
Dow Industrials: (18024) Semiannual and annual value levels are 16301, 14835 and 13467 with the Dec. 23 alltime intraday high at 18069.22, a quarterly pivot at 18045 and semiannual risky level at 18522.
S&P 500 (2082.17) Semiannual and annual value levels are 1789.3, 1539.1 and 1442.1 with the Dec. 23 all-time
intraday high at 2086.73, and monthly, quarterly and semiannual pivots / risky levels at 2089.3, 2094.2 and 2080.3.
NASDAQ (4765) Semiannual and annual value levels are 3972, 3471 and 3063 with semiannual, quarterly and
monthly pivots at 4642, 4713 and 4784, Nov.28 multiyear high at 4810.86 and the March 2000 all-time high at 5132.
Dow Transports (9150.06) Semiannual and annual value levels are 8447, 7423, 6249 and 5935 with the Nov. 28
all-time intraday high at 9319.33 and monthly and quarterly risky levels at 9343 and 9418.
Russell 2000 (1202.44) Semiannual, monthly and annual value levels are 1139.81, 1131.49 and 966.72 with the
July 1 all-time intraday high at 1213.55 and weekly and semiannual risky levels at 1235.20 and 1285.37.
The SOX (695.32) Semiannual and annual value levels are 608.02, 512.94, 371.58 and 337.74 with monthly and
quarterly pivots at 683.28 and 687.85, the Dec.8 multiyear intraday high at 704.44 and weekly risky level at 725.20.
Dow Utilities: (617.86) Quarterly and annual value levels are 553.35 and 548.70 with monthly and semiannual
pivots at 606.94 and 612.49, the Dec. 23 all-time intraday high at 620.63.
10-Year Note (2.257%) An annual pivot is at 2.263% with a monthly pivot at 2.121%, and semiannual and annual
risky levels at 1.999% and 1.779%.
30-Year Bond (2.847%) Semiannual and annual value levels are 3.082% and 3.107% with a monthly pivot at
2.808% and semiannual risky level at 2.487%.
Comex Gold ($1173.7) Weekly and quarterly value levels are $1148.8 and $906.43 with a monthly pivot at
$1195.3 and semiannual risky level at $1613.0.
Nymex Crude Oil ($57.03) A weekly pivot is $56.10 with the Jan. 2009 low at $33.20 when a gallon of regular
gasoline dipped below $1.50. A monthly pivot is $78.19 with the 200-week simple moving average at $95.55.
The Euro (1.2170) A semiannual pivot is 1.2203 with a weekly pivot at 1.2285, a monthly pivot at 1.2389, and the
200-week simple moving average at 1.3339.
The Dollar versus Japanese Yen (120.77) A monthly value level is 112.69 with weekly and quarterly risky levels
at 122.03 and 123.64.
The British Pound (1.5501) Weekly and annual value levels are 1.5437 and 1.4456 with a semiannual pivot at
1.5604, and monthly, quarterly and annual risky levels at 1.6147, 1.6210 and 1.6262.