SUTTMEIER on the US CAPITAL MARKETS

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Todays Daily Markets Briefing By Richard Suttmeier Jan. 2, 2015

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

31-Dec
17,823.07
2,058.90
4,736.05
4,236.28
9,139.92
1,204.71
686.87
618.08

Gains
7.5%
11.4%
13.4%
17.9%
23.5%
3.5%
28.4%
26.0%

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

Highs
18,103.45
2,093.55
4,814.95
4,347.09
9,319.33
1,220.81
704.44
645.74

Highs
12/26/14
12/29/14
12/26/14
11/28/14
11/28/14
12/29/14
12/8/14
12/29/14

High
-1.5%
-1.7%
-1.6%
-2.5%
-1.9%
-1.3%
-2.5%
-4.3%

Level
19,600
2,268.9
5,245
4,563
10,009
1,382.55
763.90
627.50

Upside
10.0%
10.2%
10.7%
7.7%
9.5%
14.8%
11.2%
1.5%

Level
14,557
1,558.2
3,901
3,660
7,289
954.08
432.78
510.05

%
Down
-18.3%
-24.3%
-17.6%
-13.6%
-20.3%
-20.8%
-37.0%
-17.5%

No new highs for the major equity averages as 2014 comes to an end! The S&P 500 set an all-time high at
2093.55 on Monday failing within the range of semiannual, monthly, quarterly and weekly risky levels at 2080.3,
2089.3, 2094.6 and 2099.5, respectively. New longer term levels are reflected in this post.
The Major Equity Averages Remains Above Their Five-Week Modified Moving Averages At, 17642 Dow
Industrials, 2044.9 S&P 500, 4703 Nasdaq, 8964 Dow Transports and 1175.88 Russell 2000. All major averages
remain overbought so this technical configuration is technically positive but overbought.
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: (17823) Annual value levels are 15112 and 14557 with monthly and semiannual pivots at 17889
and 18328, the Dec. 26 all-time high at 18103.45, and weekly and quarterly risky levels at 18166 and 19600.
S&P 500 (2058.9) Annual value levels are 1585.9 and 1558.2 with a semiannual pivot at 2053.3, the Dec. 29 alltime intraday high at 2093.55 and monthly and quarterly risky levels at 2114.6 and 2268.9.
NASDAQ (4736) Annual value levels are 3901and 3596 with a semiannual pivot at 4635, the Dec.26 multiyear
high at 4814.95, and weekly, monthly and quarterly risky levels at 4845, 4994 and 5245.
Dow Transports (9140) Semiannual and annual value levels are 8452, 7289 and 6635 with the Nov. 28 all-time
intraday high at 9319.33 and weekly, monthly and quarterly risky levels at 9396, 9559 and 10009.
Russell 2000 (1204.91) Weekly and annual value levels are 1194.05 and 954.08 with monthly and semiannual
pivots at 1201.97 and 1207.39, the Dec.29 all-time intraday high at 1220.81 and semiannual and quarterly risky
levels at 1287.98 and 1382.55.
The SOX (686.87) Semiannual and annual value levels are 600.94 and 432.78 with the Dec.8 multiyear intraday
high at 704.44 and weekly, monthly and quarterly risky levels at 711.64, 718.95 and 763.90.
Dow Utilities: (618.05) Annual value levels are 525.86 and 510.04 with monthly, weekly and semiannual pivots at
603.89, 617.25 and 621.83, a quarterly risky level at 627.50 and the Dec. 29 all-time intraday high at 645.74.
10-Year Note (2.170%) A quarterly value level is 3.147% with a monthly pivot at 2.079% and semiannual and
annual risky levels at 1.921%, 1.589%, 1.342% and 0.715%.
30-Year Bond (2.750%) A quarterly value level is 3.690% with annual and semiannual pivots at 3.013% and
2.949%, a monthly pivot at 2.710% and semiannual and annual risky levels at 2.177% and 2.169%.
Comex Gold ($1183.9) Monthly and quarterly value levels are $1168.3 and $893.0 weekly, semiannual and
annual risky levels at $1212.4, $1348.9, $1580.7 and $1816.9.
Nymex Crude Oil ($53.78) A weekly value level is $50.46 with the Jan. 2009 low at $33.20. Monthly and
semiannual risky levels are $66.59 and $81.58.
The Euro (1.2101) Weekly and monthly value levels are 1.2026 and 1.1831 with semiannual, quarterly and annual
risky levels at 1.2828, 1.2899 and 1.3551.
The Dollar versus Japanese Yen (119.77) Monthly and semiannual value levels are11783and 112.09 with a
quarterly risky level at 124.52.
The British Pound (1.5583) A weekly value level is 1.5214 with monthly, quarterly and semiannual risky levels at
1.5643, 1.5821 and 1.6289.