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

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http://www.valuengine.com/pub/Unsubscribe? September 19, 2011 Stocks remain Cheap with improving Technicals The NASDAQ, NASDAQ 100 (NDX) and Philadelphia Semiconductor Index (SOX) have led stocks higher since the August 9th lows. The NASDAQ ended last week above its 50-day simple moving average at 2607 with NDX above both the 50-day and 200-day at 2250 and 2290. The SOX has an overbought daily chart and is above its 50-day at 367.67. The other major averages lag versus their 50-day and 200-day SMAs and their September 1st / August 31st highs at 11,717 Dow Industrials, 1230.71 SPX, 4779 Dow Transports and 737.64 Russell 2000. The Dow and SPX ended last week above my annual pivots at 11,491 and 1210.7, but with overnight weakness in world markets these levels may not hold today. Seems like another week of two-way volatility. 10-Year Note (2.060) Semiannual, annual, monthly and quarterly value levels are 2.414, 2.690, 2.715 and 3.053 with a daily pivot at 2.056, and semiannual and weekly risky levels at 1.672 and 1.460. This yield is back down to 2.000 percent pre-market this morning.

Courtesy of Thomson / Reuters

Comex Gold ($1814.8) Daily, monthly, quarterly and semiannual value levels are $1770.7, $1702.3, $1655.8 and $1644.8 with a weekly risky level at $1970.8.

Courtesy of Thomson / Reuters

Nymex Crude Oil ($87.97) My weekly value level at $74.97 with the 200-week simple moving average at $83.77, a daily risky level at $90.91, my annual pivots at $99.91 and $101.92 and quarterly, semiannual and monthly risky levels at $102.40, $103.92 and $104.23.

Courtesy of Thomson / Reuters

The Euro (1.3783) My daily value level is 1.3602 with my quarterly pivot at 1.3728, the 200-week simple moving average at 1.4016, and weekly, semiannual and monthly risky levels at 1.3906, 1.4752 and 1.4872.

Courtesy of Thomson / Reuters

Weekly Dow - (11,509) Daily and weekly value levels are 11,431 and 10,032 with the 200-week and 120-month simple moving averages at 10,686 and 10,591, my annual pivot at 11,491, and monthly risky level at 12,779. Semiannual value levels are 9,635 and 8,468 with the 50-day and 200-day SMA death cross at 11,684 and 12,001.

Courtesy of Thomson / Reuters

S&P 500 (1216.0) Weekly and Semiannual value levels are 1039.6, 981.3 and 855.7 with a daily pivot at 1213.4, my annual pivot at 1210.7 and monthly risky level at 1342.1. NASDAQ (2622) Annual, weekly, and semiannual value levels are 2335, 2210, 2199 and 2049 with monthly risky level at 2827. NASDAQ 100 (NDX) (2306) Weekly, semiannual and annual value levels are 1989.0, 1951, 1861 and 1723 with a daily pivot at 2314 and monthly risky level at 2431. Dow Transports (4665) Semiannual and weekly value levels are 4335, 3868 and 3755 with annual and monthly risky levels at 5179 and 5190. Russell 2000 (714.31) Weekly and semiannual value levels are 566.76, 577.47 and 530.04 with a daily pivot at 718.24, and annual and monthly risky levels at 784.16 and 825.19. The SOX (381.91) Weekly, annual and semiannual value levels are 306.68, 270.98, 258.97 and 204.67 with daily and monthly risky levels at 394.37 and 418.07. Equity Fundamentals Stocks are undervalued. 82.4% of all stocks are undervalued / 17.6% of all stocks are overvalued. In March 2009, 91.1% of all stocks were undervalued. All sixteen sectors are undervalued, fifteen by double-digit percentages, four by 21.1% to 26.7%. Back in March 2009 the sectors were undervalued by 33% to 45%. Check out and subscribe to www.ValuEngine.com. VE Morning Briefing If you want expanded analysis of the US Capital Markets including a Fearless Prediction of the Week and a Stock of the Day go to this link and sign up: http://www.valuengine.com/nl/mainnl?nl=D ValuTrader Model Portfolio If you want to learn how to Buy and Trade use this link and sign up: http://www.valuengine.com/nl/mainnl?nl=V ETF Weekly If you want my Value Levels and Risky Levels for 30 Electronically Traded Funds use this link and sign up: http://www.valuengine.com/nl/mainnl?nl=U ValuEngine FDIC Evaluation Report In this report I slice and dice the FDIC Quarterly Banking Profile. We publish a ValuEngine List of Problem Banks in this publication: http://www.valuengine.com/nl/mainnl?nl=C Definition of MOJO This is my term for technical momentum. I use whats called 12x3x3 slow stochastic readings from daily, weekly and monthly charts. The scale is zero to 10.0 where above 8.0 is overbought and below 2.0 is oversold. Buy and Trade Strategies for Long Positions Value Level The price at which you establish an additional long position on share price weakness. This is done on a GTC Limit Order to buy weakness to the Value Level. Risky Level The price at which you remove a single long position or reduce a multiple long position on share price strength. This is done on a GTC Limit Order to sell strength to

the Risky Level. Buy and Trade Strategies for Short Positions Value Level The price at which you remove a single short position or reduce a multiple short position on share price weakness. This is done on a GTC Limit Order to buy weakness to the Value Level. Risky Level The price at which you establish an addition short position on share price strength. This is done on a GTC Limit Order to sell strength to the Risky Level. Richard Suttmeier Chief Market Strategist ValuEngine.com (800) 381-5576 To unsubscribe from this free email newsletter list, please click http://www.valuengine.com/pub/Unsubscribe? Send your comments and questions to Rsuttmeier@Gmail.com. For more information on our products and services visit www.ValuEngine.com
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. You can go to http://www.valuengine.com/nl/mainnl to review sample issues and find out more about my research.

I Hold No Positions in the Stocks I Cover.