Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com.ValuEngine is a fundamentally-based quant research firm in N ewtown, PA. V aluEngine covers over 7,000 stocks every day. A variety of newsletters and portfolios containing Suttmeier's detailed research, stock picks, and commentary can be found at http://www.valuengine.com/nl/mainnl March 14, 2011 – Bear is Still in Hibernation for another Week or Two The weekly chart for the Dow Industrial Average remains overbought, and Friday’s close was not below the five-week modified moving average at 12,022. The weekly chart profile turns negative on a weekly close below 12,022 with momentum (12x3x3 weekly slow stochastic) declining from 8.6 to below 8.0. This should occur over the next two weeks, which will confirm that the February 18 th high at 12,391.29 is a cycle high with risk to my annual value level at 11,491. This week’s risky level is 12,400. While we are no longer under a ValuEngine V aluation Warning, stocks remain overvalued with 5 7.8% of all stocks overvalued. This measure needs to fall below 35% to call stocks cheap. Fifteen of Sixteen sectors remain overvalued, five by double-digit percentages. Courtesy of Thomson / Reuters
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8/7/2019 Bear is Still in Hibernation for another Week or Two
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.
A variety of newsletters and portfolios containing Suttmeier's detailed research, stock picks
and commentary can be found at http://www.valuengine.com/nl/mainnl
March 14, 2011 – Bear is St i l l in H ibernat ion for another Week or Tw o
The weekly chart for the Dow Industrial Average remains overbought, and Friday’s close was
not below the five-week modified moving average at 12,022. The weekly chart profile turnsnegative on a weekly close below 12,022 with momentum (12x3x3 weekly slow stochastic)declining from 8.6 to below 8.0. This should occur over the next two weeks, which will confirmthat the February 18th high at 12,391.29 is a cycle high with risk to my annual value level at11,491. This week’s risky level is 12,400.
While we are no longer under a ValuEngine Valuation Warning, stocks remain overvalued with 57.8%of all stocks overvalued. This measure needs to fall below 35% to call stocks cheap. Fifteen of Sixteensectors remain overvalued, five by double-digit percentages.
Courtesy of Thomson / Reuters
8/7/2019 Bear is Still in Hibernation for another Week or Two
• The Dow Industrial Average (12,044) My annual value level is 11,491 with daily, weekly and
monthly risky levels at 12,183, 12,400 and 12,741.• The S&P 500 (1304.3) My quarterly value level is 1262.5 with daily, weekly and monthly risky
levels at 1319.5, 1327.3 and 1381.3.• The NASDAQ (2716) My monthly value level is 2629 with daily, weekly, quarterly and monthly
risky levels at 2757, 2753, 2853 and 2926.• The NASDAQ 100 (NDX) (2299) My monthly value level is 2250 with daily, weekly, quarterly,
and monthly risky levels at 2336, 2333, 2438 and 2499.• Dow Transports (5127) My quarterly value level is 4671 with weekly and annual pivots at 4995
and 5179, and daily risky level at 5224.• The Russell 2000 (802.83) My quarterly value level is 765.50 with a weekly pivot at 805.37,
and daily and monthly risky levels at 821.38 and 850.79.• The Philadelphia Semiconductor Index (SOX) (427.91) My monthly value level is 402.46 with
daily, weekly, monthly and quarterly risky levels at 436.86, 447.74, 453.89 and 465.93.
10-Year Note – (3.399) Daily, weekly, annual, and semiannual value levels are 3.526, 3.634, 3.796and 4.268 with monthly, annual, and semiannual risky levels at, 3.002, 2.690, 2.441, and 2.322.
Courtesy of Thomson / Reuters
8/7/2019 Bear is Still in Hibernation for another Week or Two
Comex Gold – ($1416.7) Weekly, annual, quarterly, semiannual and annual value levels are $1404.1$1356.5, $1331.3, $1300.6 and $1187.2 with a daily pivot at $1413.5, and monthly and quarterly pivotat $1437.7 and $1441.7, and semiannual risky level at $1452.6.
Courtesy of Thomson / Reuters
Nymex Crude Oil – ($100.73) Monthly, weekly, and semiannual value levels are $96.43, $95.66 and$87.52 with my annual pivots at $99.91 and $101.92, and daily, semiannual and quarterly risky levels
are $105.36, $107.14 and $110.87.
Courtesy of Thomson / Reuters
8/7/2019 Bear is Still in Hibernation for another Week or Two
The Euro – (1.3903) My quarterly value level is 1.3227 with daily, weekly, semiannual and monthlyrisky levels at 1.4046, 1.4089, 1.4624 and 1.4637.
Courtesy of Thomson / Reuters
Richard SuttmeierChief Market StrategistValuEngine.com, (800) 381-5576
Send your comments and questions to [email protected]. For more information on our products and services visitwww.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, 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 HERE to review sample issues andfind out more about my research.
