Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com.

ValuEngine is a fundamentally-based quant research firm in Newtown, PA. ValuEngine

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 HERE.

September 3, 2010 – The Power of the Monthly Pivots.

The yield on the 10-Year US Treasury is above my new monthly pivot at 2.562, which is a sign
favoring stocks. Gold’s is between my semiannual pivots at $1218.7 and $1260.8 with my
monthly risky level at $1263.8. Crude oil is above my monthly pivot at $74.45 with my annual
pivot at $77.05. The euro could be the negative divergence for stocks as my quarterly value
level lags at 1.2167. The major equity averages straddle monthly pivots at 10,164 on Dow
Industrials, 1074.9 S&P 500, 2196 NASDAQ, 4364 Dow Transports and 652.82 on Russell 2000.
10-Year Note – (2.628) My weekly value level is 2.648 with monthly, quarterly and daily pivots at
2.562, 2.495 and 2.514 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.

Courtesy of Thomson / Reuters

Comex Gold – ($1253.10) Semiannual, weekly, quarterly and annual value levels are $1218.7,
$1211.5, $1140.9 and $1115.2 with daily, semiannual and monthly risky levels at $1259.9, $1260.8 and
$1263.8. Note that gold is still overbought on its daily chart.

Courtesy of Thomson / Reuters

Nymex Crude Oil – ($74.99) My daily pivot is $74.32 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.

Courtesy of Thomson / Reuters

The Euro – (1.2822) Daily, quarterly and monthly value levels are 1.2799, 1.2167, 1.1721 and 1.1424
with weekly and semiannual risky levels at 1.3170 and 1.4733. Note that the euro is no longer
oversold on its daily chart.

Courtesy of Thomson / Reuters

Daily Dow: (10,320) Daily and quarterly value levels are 10,086 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. The 50-day
simple moving average is 10,261 with the 21-day at 10,300, and 200-day simple moving average
as resistance at 10,451.

Courtesy of Thomson / Reuters

That’s today’s Four in Four. Have a great day.

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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