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The yield on the 10-Year US Treasury continues to trade around my quarterly pivot at 2.495. A
new monthly pivot is 2.562 with my semiannual risky level at 2.249. Gold is trekking towards its
all time high at $1266.5 set on June 21st with my semiannual and monthly risky levels at
$1260.8 and $1263.8. Crude oil has a new monthly pivot at $74.45. The euro remains below its
50-day simple moving average at 1.2789. The Dow shows a new monthly pivot at 10,164 for
September with today’s value level at 9,876. The miss-interpretation of economic data.
10-Year Note – (2.477) Monthly and weekly value levels are 2.562 and 2.648 with daily and quarterly
pivots at 2.508 and 2.495 and my semiannual risky level at 2.249. My annual value levels are 2.813
and 2.999. Note that the decline in yield is no longer overdone on the daily chart.
Nymex Crude Oil – ($71.75) My daily pivot is $71.71 with a monthly pivot at $74.45, and annual,
weekly and semiannual risky levels at $77.05, $81.35 and $83.94. Note that crude oil is no longer
oversold on the daily chart profile.
Daily Dow: (10,015) Daily and quarterly value levels are 9,876 and 7,812 with a monthly pivot at
10,164, and annual, semiannual, weekly and annual risky levels at 10,379, 10,558, 10,904 and
11,235. My annual risky level at 11,235 was tested at the April 26th high of 11,258.01. Note that
the daily chart remains oversold with the 21-day, 50-day and 200-day simple moving averages
at 10,335, 10,261 and 10,452.
Richard Suttmeier
Chief Market Strategist
ValuEngine.com
(800) 381-5576
Send your comments and questions to Rsuttmeier@Gmail.com. For more information on our products
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As Chief Market Strategist at ValuEngine Inc, my research is published regularly on the website www.ValuEngine.com.
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