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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.

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 http://www.valuengine.com/nl/mainnl To unsubscribe from this free email newsletter list, please click

http://www.valuengine.com/pub/Unsubscribe? June 20, 2011 The Weekly Charts Remain Negative. Daily Charts Oversold The decline in the yield on the 10-Year US Treasury is overdone on its weekly chart, so focus on the daily chart where key support is the 200-day simple moving average at 3.117. Gold has a negative divergence in weekly MOJO, so focus on the daily chart where the 50-day is support at $1511.3 the Troy ounce. Crude oil has a negative weekly chart with risk to the 200-week simple moving average at $83.37. Crude oil tested its 200-day at $92.25 last Friday, so closes below that milestone would be the next negative. The euro versus the dollar is negative on its weekly chart where the 200-week is the key support at 1.4012. The weekly charts for the major equity averages are negative. The daily charts are oversold with the averages straddling 200day SMAs at; 11,735 Dow Industrials, 1259 SPX, 2641 NASDAQ, 2227 NDX, 5041 Dow Transports, 773.04 Russell 2000 and 409.77 SOX. If stocks break below the 200-day SMAs the risk over time is the 200-week SMAs at 10,803 Dow Industrials, 1164.79 SPX, 2249 NASDAQ, 1821 NDX, 4324 Dow Transports, 657.32 Russell 2000, and 347.42. 10-Year Note (2.936) Monthly, annual and quarterly value levels are 3.783, 3.796 and 4.016 with a daily pivot at 2.945, and weekly, annual and semiannual risky levels at 2.758, 2.690, 2.441, and 2.322.

Courtesy of Thomson / Reuters

Comex Gold ($1538.9) Semiannual and annual value levels are $1452.6 and $1356.5 with quarterly and daily pivots at $1523.7 and $1522.0, and weekly and monthly risky levels at $1549.5 and $1574.3.

Courtesy of Thomson / Reuters

Nymex Crude Oil ($93.05) Semiannual and weekly value levels are $87.52 and $87.15 with daily and annual pivots at $95.15, $99.91 and $101.92, and semiannual, monthly and quarterly risky levels at $107.14, $113.61 and $120.52.

Courtesy of Thomson / Reuters

The Euro (1.4296) Weekly and daily value levels are 1.4177 and 1.4038 with monthly and quarterly pivots at 1.4258 and 1.4308, and semiannual risky level at 1.4624.

Courtesy of Thomson / Reuters

Weekly Dow: (12,004) The weekly chart stays negative with declining MOJO and weekly closes below the five-week modified moving average at 12,249. My annual value level is 11,491 with weekly, monthly, quarterly and annual risky levels at 12,185, 13,663, 13,774 and 13,890. A break of the up trend indicates risk to the 200-week simple moving average at 10,802.

Courtesy of Thomson / Reuters

S&P 500 (1271.5) The 200-day simple moving average is 1259 with a daily pivot at 1265.1 and weekly risky level at 1289.3. The 5-week and 5-month modified moving averages are 1306.7 and 1276.4. NASDAQ (2616) My daily value level is 2590 with the 200-day simple moving average is 2641 and weekly risky level at 2677. The 5-week and 5-month modified moving averages are 2732 and 2675. NASDAQ 100 (NDX) (2193) My daily value level is 2175 with the 200-day simple moving average is 2227 and weekly risky level at 2235. The 5-week and 5-month modified moving averages are 2292 and 2244. Dow Transports (5159) The 200-day simple moving average is 5041 with a daily value level at 5086, my annual pivot at 5179, and weekly risky level at 5337. The 5-week and 5-month modified moving averages are 5258 and 5090. Russell 2000 (781.75) The 200-day simple moving average is 773.04 with a daily value level at 770.43, my annual pivot at 784.16, and weekly risky level at 787.87. The 5-week and 5-month modified moving averages are 812.21 and 790.71. The SOX (388.21) My daily value level is 381.45 with the 200-day simple moving average at 409.77, and weekly risky level at 400.70. The 5-week and 5-month modified moving averages are 420.56 and 418.78. Definition of MOJO This is my term for technical momentum. I use whats called 12x3x3 slow stochastic readings from daily, weekly and monthly charts. The scale is zero to 10.0 where above 8.0 is overbought and below 2.0 is oversold. Richard Suttmeier Chief Market Strategist ValuEngine.com (800) 381-5576 To unsubscribe from this free email newsletter list, please click http://www.valuengine.com/pub/Unsubscribe? Send your comments and questions to Rsuttmeier@Gmail.com. For more information on our products and 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, and quarterly newsletters available that track a variety of equity and other data parameters as well as my most up-to-date analysis of world markets. My newest products include a weekly ETF newsletter as well as the ValuTrader Model Portfolio newsletter. You can go to http://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.

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