Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com. ValuEngine is a fundamentally-based quant research firm in Melbourne, FL.

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October 9, 2013 The Nasdaq is below 3759 with its 50-day SMA at 3693.

The yield on the 10-Year US Treasury continues to show that the decline in yields is overdone with the 50-day SMA at 2.743%. The yield on the 30-Year US Treasury bond shows a negative divergence favoring a rise in yield to its 50-day SMA at 3.761%. The weekly chart for the 10-Year yield is between its five-week MMA at 2.686% and its 200-week SMA at 2.523%. The weekly chart for the 30-year yield is also between its five-week MMA at 3.718% and its 200-week SMA at 3.633%. If bond investors were worried about default yields would be on the rise. 10-Year Note (2.639) Weekly and semiannual value levels are 2.960 and 3.227 with daily and monthly pivots at 2.616 and 2.603, and annual and semiannual risky levels at 2.476, 1.981 and 1.719. Comex gold remains below its 50-day SMA at $1343.8 the Troy ounce with the 200-day SMA at $1456.8. The weekly chart stays negative with the five-week MMA at $1334.3 with the 200-week SMA at $1476.3. Crude oil remains below its 50-day SMA at $105.92 with the 200-day SMA at $98.12 with a positive divergence in momentum on the daily chart. The weekly chart remains negative with the five-week MMA at $104.91 and the 200-week SMA at $91.26. The euro vs. the dollar is above its 50-day and 200-day SMAs at $1.3366 and 1.3183 with the February high at $1.3709 on a daily chart that shows a negative divergence in momentum. The weekly chart profile remains positive but overbought with the five-week MMA at 1.3422 and the 200-week SMA at 1.3334. Comex Gold ($1319.8) Daily and monthly value levels are $1311.3 and $1145.2 with weekly, quarterly and annual risky levels at $1389.9, $1435.6, $1599.9 and $1852.1. Nymex Crude Oil ($103.53) My monthly value level is $99.84 with a daily pivot at $103.16 and weekly, semiannual, quarterly and annual risky levels at $106.24, $109.84, $114.36 and $115.23. The Euro (1.3574) Annual, quarterly, monthly and semiannual value levels are 1.3257, 1.2805, 1.2782, 1.2756 and 1.2477 with a weekly pivot at 1.3443 and daily and annual risky levels at 1.3641 and 1.4295. The Dow Industrial Average is between the 200-day SMA at 14,720.43 and below its 50-day SMA at 15,217.90. The S&P 500 is now below its 50-day SMA at 1679.06. The Nasdaq is approaching its 50day SMA at 3692.84. The Dow Transportation Average is below its 50-day SMA at $6502.99. The Russell 2000 is on the cusp of its 50-day SMA at 1050.09.

The weekly chart for Dow Industrials stays negative with a close this week below its five-week MMA at 15,125.10. The weekly chart for the S&P 500 shifts to negative on a close this week below the fiveweek MMA at 1676.02. The weekly chart for the Nasdaq stays positive but overbought with a close this week above its five-week MMA at 3707.32. The weekly chart for Dow Transports shifts to negative on a close this week below the five-week MMA at 6511.27. The weekly chart for the Russell 2000 stays positive but overbought with a close this week above its five-week MMA at 1052.50. We are a week away from a potential confirmation of the recent all time highs or multi-year high on the Nasdaq as cycle highs. Dow Industrials is above its weekly value levels at 14,809 with the S&P 500 just above its weekly level at 1658.8. The Nasdaq, Dow Transports and Russell 2000 are below their weekly levels, now pivots at 3763, 6522 and 1053.91 Russell 2000. My semiannual pivot is 3759 on the Nasdaq with monthly, semiannual and quarterly risky levels at 15,932, 16,490 and 16,775 Dow Industrials, 1746.4, 1743.5 and 1853.8 S&P 500, 3830 and 4025 Nasdaq, 6811, 7104 and 7205 Dow Transports and 1092.46, 1089.42 and 1163.21 Russell 2000. My annual value levels remain at 12,696 Dow Industrials, 1348.3 S&P 500, 2806 Nasdaq, 5469 Dow Transports, and 809.54 Russell 2000. Daily Dow: (14,777) Semiannual and annual value levels are 14,724 and 12,696 with daily and weekly pivots at 14,732 and 14,809, the Sept. 18 all time high at 15,709.59, and monthly, semiannual and quarterly risky levels at 15,932, 16,490 and 16,775. S&P 500 (1655.5) Semiannual and annual value levels are 1606.9, 1400.7 with daily and weekly pivots at 1660.2 and 1658.8, the Sept. 19 all time high at 1729.86, and semiannual, monthly and quarterly risky levels at 1743.5, 1746.4 and 1853.8. NASDAQ (3695) Semiannual and annual value levels are 3668 and 2806 with daily, weekly and semiannual pivots at 3752, 3763 and 3759, the Oct. 1 multi-year high at 3817.98, and monthly and quarterly risky level at 3830 and 4025. NASDAQ 100 (NDX) (3154) My annual value level is 2463 with daily and weekly pivots at 3196 and 3220, the Oct. 1 multi-year high at 3254.33, and monthly, semiannual and quarterly risky levels at 3254, 3304 and 3477. Dow Transports (6447) Annual value levels are 5925 and 5469 with daily and weekly risky levels at 6498 and 6522, the Sept. 20 all time high at 6754.81, and monthly, semiannual and quarterly risky levels at 6811, 7104 and 7205. Russell 2000 (1047.26) My annual value levels are 860.25 and 809.54 with weekly and daily risky levels at 1053.91 and 1061.02, the Oct. 1 all time high at 1087.78, and semiannual, monthly and quarterly risky levels at 1089.42, 1092.46 and 1163.21. The SOX (486.82) My annual value level is 338.03 with weekly and daily pivots at 489.73 and 490.35, the Sept. 19 high at 500.24, and monthly, quarterly and semiannual risky level at 512.13, 514.87 and 533.56. Dow Utilities: (480.89) Daily and weekly value levels are 477.31 and 457.02 with monthly, quarterly, semiannual and annual risky levels at 512.80, 520.55, 523.33 and 540.37. To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact me at RSuttmeier@gmail.com.