8/9/2019 A Weekly Close for the Dow above 10,379 targets 10,558

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

covers over 5,000 stocks every day.

A variety of newsletters and portfolios containing Suttmeier's detailed research, stock picks,and commentary can be found HERE.

July 23, 2010 A Weekl y Close for the Dow above 10,379 t arget s 10,558

The weekly charts show the following: The decline in the 10-Year yield is overdone with myannual pivot at 2.999 and my annual risky level at 2.813. Gold should continue to trend lowerwith my quarterly value level at $1140.9. Crude oil held my annual pivot at $77.05, whichtargeted my monthly risky level at $79.36 with semiannual risky level at $83.94. The euro stayspositive on a weekly close above 1.2617, which is the five-week modified moving average. TheDow trading range is 10,019 to 10,379. A weekly close above the five-week modified movingaverage at 10,190 shifts the weekly chart to positive. My Presentation in NYC on Monday,August 9th at Bloomberg Headquarters at 5:30 PM

10-Year Note (2.926) The weekly chart shows that the decline in yields is overdone. The low yieldfor the move was 2.853 set on July 21st, and was a failed test of my 2.999 and 2.813 annual riskylevels. Next week the US Treasury auctions $39 billion in 2-Year notes on Tuesday, $37 billion 5-Yearnotes on Wednesday and $29 billion 7-Year notes on Thursday.

Courtesy of Thomson / Reuters

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Comex Gold ($1194.8) The weekly chart for gold stays negative on a weekly close below the five-week modified moving average at $1206.3. The all time high of $1266.5 set on June 21stwas a testof Junes monthly resistance, as a significant top for gold.

Courtesy of Thomson / Reuters

Nymex Crude Oil ($78.96) A close today above my annual pivot at $77.05 and my monthly risky

level at $79.36, which was tested on Thursday indicates upside to my semiannual risky level at $83.94.

Courtesy of Thomson / Reuters

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The Euro (1.2886) The weekly chart stays positive on a weekly close above the five-week modifiedmoving average at 1.2674.

Courtesy of Thomson / Reuters

Daily Dow: (10,322) This weeks pivot is 10,019 with daily and annual pivots at 10,303 and 10,379,and semiannual and monthly risky levels at 10,558 and 10,891. My quarterly value level is 7,812 withmy annual risky level at 11,235, which was tested at the April 26th high at 11,258. This test marked theend of the bear market rally that began in March 2009. We are in the second leg of the multi-year bearmarket that began in October 2007 targeting 8,500 before 11,500.

Courtesy of Thomson / Reuters

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Weekly Dow:The April 26th high of 11,258 was a test of the 61.8% Fibonacci Retracement of thedecline from October 2007 high to the March 2009 low. Note also the failed test of the 200-week simplemoving average now at 11,071 and the failed test of my annual risky level at 11,235. MOJO is flat and aweekly closes above the 5-week modified moving average at 10,190 shifts the weekly chart profile topositive.

Courtesy of Thomson / Reuters

Monthly Dow: now shows declining MOJO after being oversold and monthly closes below the five-month modified moving average at 10,169 keeps the monthly chart to negative. The 120-month simplemoving average is a resistance at 10,452.

Courtesy of Thomson / Reuters

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Richard Suttmeier Presentation Monday, August 9, 2010: I will be the speaker at the MarketTechnicians Association Meeting to be held at Bloomberg Headquarters at 5:30 PM on Monday,

August 9, 2010. Home Prices are Set to Fall to the Levels of 1999 / 2000 Community Banks remain Vulnerable for Failure US Stocks have begun the Second Leg of a Multi-Year Bear Market "Buy and Trade' Replaces "Buy and Hold"

To attend please reply to rsuttmeier@gmail.com and include: first and last name, company name,address, email and phone number so that you can be pre-registered into the Bloomberg securitysystems for this event.

Thats todays Four in Four. Have a great day.

Richard SuttmeierChief Market Strategistwww.ValuEngine.com(800) 381-5576

As Chief Market Strategist at ValuEngine Inc, my research is published regularly on the website www.ValuEngine.com. Ihave daily, weekly, monthly, and quarterly newsletters available that track a variety of equity and other data parameters aswell as my most up-to-date analysis of world markets. My newest products include a weekly ETF newsletter as well as theValuTrader Model Portfolio newsletter. I hope that you will go to www.ValuEngine.com and review some of the sampleissues of my research.

I Hold No Positions in the Stocks I Cover.