stocks could not hold their post-fomc gains

8/3/2019 Stocks could not hold their post-FOMC gains.

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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.

A variety of newsletters and portfolios containing Suttmeier's detailed research, stock picks,and commentary can be found http://www.valuengine.com/nl/mainnl

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Januar y 30 , 2011 Stock s coul d not hold t he i r pos t -FOMC gains .

The Dow Industrial Average traded as high as 12,841.95 last Thursday staying below its May 2,

2011 high at 12,876. This week I will be tracking the technicals that would confirm my two boldpredictions; that last weeks high will be the high for the first quarter, and that the high for theyear will be below the 2011 high. The daily chart for the Dow is still overbought so we needdaily closes below my quarterly pivot at 12,796 for these predictions to gain credence. Theweekly chart for the Dow is also overbought so we need weekly closes below my quarterlypivot at 12,478 to confirm a first quarter high. Last weeks highs were; 1333.47 SPX, 2834.30NASDAQ, 5359.00 Dow Transports, and 800.22 Russell 2000. Dow Industrials, S&P 500 andNASDAQ are above quarterly pivots at 12,478, 1305.4 and 2777 with quarterly risky levels at5448 Transports and 829.03 Russell 2000. The yield on the 10-Year note is below mysemiannual pivot at 1.903. Gold nearly tested my quarterly risky level at $1740.9. Crude oilcontinues to trade around my quarterly pivot at $99.87. The euro versus the dollar is above my

semiannual pivot at 1.2980 and its 50-day at 1.3080.10-Year Note (1.896) My daily and annual value levels are 2.087 and 2.502 with my semiannualpivot at 1.903, and weekly, quarterly, monthly and semiannual risky levels at 1.841, 1.687, 1.409 and1.385.

Courtesy of Thomson / Reuters


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Comex Gold ($1737.7) Semiannual, weekly, annual and weekly value levels are $1659.5, $1635.8,$1613.2, $1575.8, $1388.4 and $1559.1 with daily, monthly and quarterly pivots at $1722.8, $1706.7,

and $1740.9.


Nymex Crude Oil ($99.61) Weekly, semiannual and monthly value levels are $96.94, $79.83 and$75.53 with quarterly and daily pivots at $99.87 and $98.59, and semiannual and annual risky levels at$104.84, and $103.58 and $117.00.



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The Euro (1.3224) Semiannual, weekly, monthly and quarterly value levels are 1.2980, 1.2634,1.2780 and 1.2499 with daily, annual and semiannual risky levels at 1.3367, 1.4239 and 1.4405.


Weekly Dow: (12,661) Quarterly, annual, monthly and semiannual value levels are 12,478, 12,312,11,210, 8,425 and 8,336 with weekly and quarterly pivots at 12,733 and 12,796, the May 2, 2011 highat 12,876, and daily, weekly and annual risky levels at 12,879, 13,391 and 14,032..



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S&P 500 (1316.3) Quarterly, monthly and semiannual value levels are 1305.4, 1152.8, 841.7 and829.9 with a weekly pivot at 1314.1, and daily, quarterly, and annual risky levels at 1338.7, 1331.7,

1363.2 and 1562.9. The May 2, 2011 high is 1370.58.NASDAQ (2817) Quarterly, weekly, annual, monthly and semiannual value levels are 2777, 2758,2698, 2432, 2012 and 1952 with daily, quarterly, weekly and annual risky levels at 2866, 2849, 2894and 3232. The May 2, 2011 high is 2887.75.

NASDAQ 100 (NDX) (2462) Quarterly, weekly, annual, monthly and semiannual value levels are2422, 2412, 2300, 2185, 1851 and 1743 with daily, quarterly and annual risky levels at 2500, 2471 and2603.

Dow Transports (5345) Monthly and semiannual value levels are 4443, 4407 and 3778 with aweekly pivot at 5309, and daily, quarterly, weekly and annual risky levels at 5392, 5448, 5543, 5861and 6111. The all time high was set at 5627.85 on July 11, 2011.

Russell 2000 (798.81) Weekly, monthly and semiannual value levels are 787.77, 646.71, 572.90and 510.81 with daily, quarterly and annual risky levels at 813.06, 824.46, 829.03, 836.15 and 969.09.The all time high was set at 868.57 on May 2, 2011.

The SOX (413.35) Weekly, quarterly, monthly, annual and semiannual value levels are 394.61,390.17, 310.48, 269.80, 277.90 and 194.47 with daily, quarterly and annual risky levels at 440.06,423.32 and 520.61. The 2011 high is 474.33 set on February 18, 2011.

ValuEngine Valuation Model Stocks are not cheap enough to chase MOJO. 64.7% of all stocks are undervalued / 35.3% of all stocks are overvalued. On October 4 th -

93.5% of all stocks were undervalued. All sixteen sectors are undervalued; three are undervalued by double-digit percentages (10.0%

/ 13.6%). Back in March 2009 the sectors were undervalued by 33% to 45%. Check out andsubscribe to www.ValuEngine.com .

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ETF Weekly If you want my Value Levels and Risky Levels for 30 Electronically Traded Funds usethis 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 BankingProfile. We publish a ValuEngine List of Problem Banks in this publication:http://www.valuengine.com/nl/mainnl?nl=C The December FDIC report with complete analysis ofthe Q3 Quarterly Banking Profile is now available. I track the continuing slow improvement to thehousing market and banking system, but recognize that we are not out of the war.

ValuEngine Capital Management - Over the years many of my readers have asked for investment


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help based upon ValuEngine and my technical analysis expertise. This is now possible through VECapital Management LLC. If you are a Registered Investment Advisor looking for new products to offerto your clients, let me know. If you have any questions, please respond to this email.

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 multiple

short position on share price weakness. This is done on a GTC Limit Order to buy weaknessto 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 SuttmeierChief Market StrategistValuEngine.com(800) 381-5576

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Send your comments and questions to [email protected] . For more information on our productsand 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, 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.

I Hold No Positions in the Stocks I Cover.

stocks could not hold their post-fomc gains

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