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

ValuEngine is a fundamentally-based quant research firm in Princeton, NJ. ValuEngine covers over 5,000 stocks every day. A variety of newsletters and portfolios containing Suttmeier's detailed research, stock picks, and commentary can be found HERE.

August 11, 2010 – The Dow holds my Semiannual Pivot at 10,558 pre Fed Statement The yield on the 10-Year declined to 2.740 versus my week’s risky level at 2.726. Gold flutters around the $1,200 the Troy ounce level. Crude oil stayed above monthly and annual pivots at $80.02 and $77.05. The euro should peak between daily and weekly risky levels at 1.3292 and 1.3533. The Dow should peak below the May 13th high of 10,920. The FOMC shows concern about “lower housing wealth.” 10-Year Note – (2.781) My annual pivots are 2.999 and 2.813 with daily and weekly risky levels at 2.741 and 2.726 versus Tuesday’s low yield at 2.743. Semiannual and monthly value levels are 3.479 and 3.601 with quarterly and semiannual risky levels at 2.495 and 2.249.

Courtesy of Thomson / Reuters

Comex Gold – ($1204.8) Weekly, quarterly, monthly and annual value levels are $1194.2, $1140.9, $1133.2 and $1115.2 with semiannual and daily pivots at $1218.7 and $1,222.7, and my semiannual risky level at $1260.8.

Courtesy of Thomson / Reuters

Nymex Crude Oil – ($80.15) Monthly and annual value levels are $80.02 and $77.05 with weekly, semiannual and daily risky levels at $81.84, $83.94 and $83.97. My quarterly value level is $56.63.

Courtesy of Thomson / Reuters

The Euro – (1.3183) Quarterly and monthly value levels are 1.2167, 1.1486 and 1.1424 with daily, weekly and semiannual risky levels at 1.3292, 1.3533 and 1.4733.

Courtesy of Thomson / Reuters

Daily Dow: (10,644) Monthly, weekly and annual value levels are 10,439, 10405 and 10,379 with a semiannual pivot at 10,558 (tested Tuesday) and daily risky level at 10,816, and monthly risky level at 11,045. My quarterly value level is 7,812. My annual risky level at 11,235 was tested at the April 26th high of 11,258.01.

Courtesy of Thomson / Reuters

The Fed Concern Shines through FOMC Statement The pace of the economic recovery and job growth has slowed in recent months, as household spending increases gradually but is constrained by high unemployment, modest income growth, lower housing wealth, and tight credit conditions. • Business spending on equipment and software is rising, but investment in nonresidential structures continues to be weak and employers remain reluctant to add to payrolls. • Housing starts remain at a depressed level. • Bank lending has continued to contract. • The pace of economic recovery is likely to be more modest in the near term than had been anticipated. • Inflation is likely to be subdued for some time. • Exceptionally low levels for the federal funds rate will be needed for an extended period. • QE2 is limited to keeping Federal Reserve's holdings of securities at their current level by reinvesting principal payments from agency debt and agency mortgage-backed securities in longer-term Treasury securities. The Committee will continue to roll over the Federal Reserve's holdings of Treasury securities as they mature. That’s today’s Four in Four. Have a great day. Richard Suttmeier Chief Market Strategist www.ValuEngine.com (800) 381-5576
As Chief Market Strategist at ValuEngine Inc, my research is published regularly on the website www.ValuEngine.com. I have daily, weekly, monthly, and quarterly newsletters available that track a variety of equity and other data parameters as well as my most up-to-date analysis of world markets. My newest products include a weekly ETF newsletter as well as the ValuTrader Model Portfolio newsletter. I hope that you will go to www.ValuEngine.com and review some of the sample issues of my research. “I Hold No Positions in the Stocks I Cover.”

Sign up to vote on this title
UsefulNot useful