pivots come into play as the 1st quarter of 2012 nears an end

8/2/2019 Pivots come into play as the 1st quarter of 2012 nears an end.

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Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com.ValuEngine is a fundamentally-based quant research firm in Newtown, PA. ValuEnginecovers over 7,000 stocks every day.

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March 21, 2012 Pivots c om e into p lay as t he 1 st quar t er o f 2012 nears an end.

Tuesday was a day where the power of the pivot ruled market volatility. The Dow Industrials

opened below its weekly pivot at 13,195, but recovered to that level in afternoon trading beforefading into the close. On Monday the S&P 500 tested but could not close above its weekly pivoat 1413.4. The Dow Transports provided the stabilizing force staying above its weekly valuelevel at 5246. The Russell 2000 broke back below its annual pivot at 836.15 but held itssemiannual pivot at 829.03. This is the framework for this weeks trading range. At month endwe will have new weekly, monthly and quarterly value levels, pivots and risky levels. The yieldon the 10-Year US Treasury remains above its 200-day simple moving average at 2.214. Goldremains below its 200-day at $1680.3. Crude oil remains locked between my annual pivot at$103.58 and this weeks risky level at $110.31. The euro versus the dollar remains above itssemiannual pivot at 1.2980.

10-Year Note (2.357) Daily and annual value levels are 2.447 and 2.502 with weekly, semiannualand quarterly risky levels at 2.056, 1.903 and 1.687.

Courtesy of Thomson / Reuters


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Comex Gold ($1648.9) My annual value level is $1575.8 with semiannual and daily pivots at$1659.5, $1635.8 and $1634.2, and quarterly, weekly and monthly risky levels at $1740.9, $1762.4

and $1888.4.


Nymex Crude Oil ($105.61) Annual, quarterly, monthly and semiannual value levels are $103.58,$99.87, $97.96 and $79.83 with semiannual and daily pivots at $104.84 and $106.19, and weekly andannual risky levels at $110.31 and $117.00.



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The Euro (1.3219) Daily, semiannual, monthly, and quarterly value levels are 1.3016, 1.2980,1.2622, and 1.2499 with weekly, annual and semiannual risky levels at 1.3461, 1.4239 and 1.4405.


Daily Dow: (13,170) Quarterly, annual, monthly and semiannual value levels are 12,478, 12,312,11,903, 8,425 and 8,336 with a weekly pivot at 13,195, and daily and annual risky levels at 13,385 and14,032.



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S&P 500 (1405.5) Annual, quarterly, monthly and semiannual value levels are 1363.2, 1305.4,1222.5, 841.7 and 829.9, and a weekly pivot at 1413.4, and daily and annual risky levels at 1425.1

and 1562.9.NASDAQ (3074) Quarterly, annual, monthly and semiannual value levels are 2777, 2698, 2651,2012 and 1952 with daily, weekly and annual risky levels at 3116, 3128 and 3232.

NASDAQ 100 (NDX) (2738) Annual, monthly, quarterly, annual and semiannual value levels are2603, 2428, 2422, 2300, 1851 and 1743 with daily and weekly risky levels at 2771 and 2772.

Dow Transports (5289) Weekly, monthly and semiannual value levels are 5246, 4470, 4407 and3778 with daily, quarterly, and annual risky levels at 5383, 5448, 5861 and 6111. The all time high wasset at 5627.85 on July 11, 2011.

Russell 2000 (829.26) Monthly and semiannual value levels are 684.13, 572.90 and 510.81 with

quarterly pivots at 824.46 and 829.03, my annual pivot at 836.15, and daily and weekly risky levels at847.86 and 855.08. The all time high was set at 868.57 on May 2, 2011.

The SOX (435.56) Quarterly, monthly, annual and semiannual value levels are 390.17, 323.52,269.80, 277.90 and 194.47 with a weekly pivot at 437.07, and daily and annual risky levels at 443.08and 520.61. The 2011 high is 474.33 set on February 18, 2011.

ValuEngine Valuation Model: The pendulum swings further to overvalued from undervalued. 48.4% of all stocks are undervalued / 51.6% of all stocks are overvalued. Back on October 4th

93.5% of all stocks were undervalued. Fifteen of sixteen sectors are overvalued; five by double-digit percentages. Finance is 22.9%

OV. Computers & Technology is 25.7% OV. Retail-Wholesale is 17.5% OV. Back in March 2009all sectors were undervalued by 33% to 45%.

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ValuEngine FDIC Evaluation Report In this report I slice and dice the FDIC Quarterly BankingProfile. We publish a ValuEngine List of Problem Banks in this publication:http://www.valuengine.com/nl/mainnl?nl=CMy special report dissecting the Q4 2011 FDICQuarterly Banking Profile was posted on March 7 th. I track the continuing slow improvement to thehousing market and banking system, but recognize that we are not out of the woods.

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Definition of MOJO This is my term for technical momentum. I use whats called 12x3x3 slowstochastic readings from daily, weekly and monthly charts. The scale is zero to 10.0 where above 8.0is 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 tothe Risky Level.

Buy and Trade Strategies for Short Positions

Value Level The price at which you remove a single short position or reduce a multipleshort position on share price weakness. This is done on a GTC Limit Order to buy weaknesto the Value Level.

Risky Level The price at which you establish an addition short position on share pricestrength. This is done on a GTC Limit Order to sell strength to the Risky Level.

Richard SuttmeierChief Market StrategistValuEngine.com(800) 381-5576

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As Chief Market Strategist at ValuEngine Inc, my research is published regularly on the website www.ValuEngine.com. I have daily, weekly, monthly, andquarterly newsletters available that track a variety of equity and other data parameters as well as my most up-to-date analysis of world markets. Mynewest products include a weekly ETF newsletter as well as the ValuTrader Model Portfolio newsletter. You can go tohttp://www.valuengine.com/nl/mainnl to review sample issues and find out more about my research.

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pivots come into play as the 1st quarter of 2012 nears an end

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