Suttmeier Weekly Market Briefing

The Major Equity Averages

U.S. Treasuries, Comex Gold, Nymex Crude Oil, Currencies

Value Levels – Levels that are likely to hold on weakness. Pivots – Levels that could be tested as magnets. Risky Levels – Levels that are likely to restrain strength (W-Weekly, M-Monthly, Q-Quarterly, S-Semiannual and A-Annual) Five-Week – The five-week modified moving average. Int Sent – 12x3x3 weekly slow stochastic reading on a scale of 0.0 to 10.0. (Below 2.0 is oversold, above 8.0 is overbought. Rising is positive. Declining is negative) Weekly Charts – Above the Five-Week with rising Stoch is positive. Below the Five-Week with declining Stoch is negative.

Suttmeier Weekly Market Briefing New Multiyear and All-Time Intraday Highs Were Set Last Week. The S&P 500 set an all-time high at 2097.03 on Friday. The Nasdaq Composite set a multiyear high at 4893.64 on Friday. The Russell 2000 set an all-time high at 1223.74 on Friday. The Dow Jones Industrial Average fell short by just 0.4%, while Dow Transports is shy by 3%. U.S. Treasury yields were higher, gold slumped, crude oil continued to rebound and the dollar was stable. All five major equity averages are above their five-week modified moving averages at 17690 Dow Industrials, 2049.2 S&P 500, 4738 Nasdaq, 8915 Dow Transports and 1191.23 Russell 2000. If the closes on Friday, February 20 are above these moving averages, all major averages will have positive weekly charts.

The year-to-date lows for the five major equity averages; 17037.76 Dow Industrials on Feb. 2, 1980.90 S&P 500 on Feb. 2, 4563.11 Nasdaq on Jan.16, 8583.54 Dow Transports on Feb. 2, and 1151.30 Russell 2000 on Jan.16.

Dow Industrials: (18019) Annual value levels are 15112 and 14557 with monthly and weekly pivots at 17706 and 17714, the Dec. 26 all-time intraday high at 18103.45, and semiannual and quarterly risky levels at 18328, 18744 and 19600.

S&P 500 – (2097.0) Annual value levels are 1585.9 and 1558.2 with weekly, semiannual and monthly pivots at 2042.1, 2053.3 and 2076.7, the Feb. 13 all-time intraday high at 2097.03 and semiannual and quarterly risky levels at 2102.2 and 2268.9.

NASDAQ – (4894) Annual value levels are 3901and 3596 with semiannual and weekly pivots at 4635, 4715 and 4745, the Feb. 13 multiyear high at 4893.84, and monthly and quarterly risky levels at 4931 and 5245.

Dow Transports – (9034) Semiannual and annual value levels are 8452, 7289 and 6635 with semiannual and weekly pivots at 8655 and 8911, a monthly risky level at 9139, the Nov. 28 all-time intraday high at 9319.33 and quarterly risky level at 10009.

Russell 2000 – (1223.12) Annual value levels are 975.84 and 954.08 with monthly, weekly and semiannual pivots at 1192.45, 1200.14 and 1207.39, the Feb. 13 all-time intraday high at 1223.74 and semiannual and quarterly risky levels at 1287.98 and 1382.55.

The SOX – (705.08) Semiannual and annual value levels are 619.34, 600.94 and 432.78 with weekly and monthly pivots at 680.31 and 699.73, the Feb. 13 multiyear intraday high at 706.94 and quarterly risky level at 763.90.

Dow Utilities: - (593.83) Annual value levels are 525.86 and 510.04 with semiannual, quarterly, weekly and monthly risky levels at 621.93, 627.50, 632.69 and 637.27 and the Jan. 28 all-time intraday high at 657.17.

10-Year Note – (2.028%) My quarterly value level is 3.147% with semiannual and monthly pivots at 1.921% and 1.964%, and weekly, annual and semiannual risky levels at 1.760%, 1.589%, 1.342% and 0.715%.

30-Year Bond – (2.633%) Semiannual, annual and quarterly value levels are 2.949%, 3.013% and 3.690% with a monthly pivot at 2.493%, and weekly, semiannual and annual risky levels at 2.341%, 2.169% and 2.117%.

Comex Gold – ($1228.0) A quarterly value level is $893.0 with a monthly pivot at $1238.7, and weekly, semiannual and annual risky levels at $1282.8, $1348.9, $1580.7 and $1816.9.

Nymex Crude Oil – ($52.53) A weekly value level is $43.04 with the Jan. 2009 low is at $33.20 and the Feb. 3 high at $54.24, a monthly pivot at $49.89, and semiannual risky levels at $66.59 and $81.58.

The Euro – (1.1398) – A weekly value level is 1.0928 with the Jan. 26 low at 1.1098, a monthly pivot at 1.1366, and semiannual and quarterly risky levels are at 1.2828, 1.2899 and 1.3551.

The Dollar vs Japanese Yen – (118.77) A semiannual value level is are 112.09 with a weekly pivot at 117.95 and monthly and quarterly risky levels at 121.22 and 124.52.

The British Pound – (1.5401) Weekly an annual value levels are 1.4881 and 1.2801 with a monthly pivot at 1.5266 and quarterly and semiannual risky levels at 1.5821 and 1.6289.