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

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October 25, 2013 Another new all time high for the Dow Transportation Average.

The decline in yield on the US Treasury 10-Year stalled at my annual pivot at 2.476% with the 50-day SMA at 2.739%. The yield on the US Treasury 30-Year bond is between my monthly pivot at 3.628% and my quarterly risky level is 3.487%. The weekly chart shows the 10-Year yield below its five-week MMA at 2.643% and is now on the cusp of its 200-week SMA at 2.512%. The weekly chart shows the 30-year yield below its five-week MMA at 3.691 and is just below its 200-week SMA at 3.624%. 10-Year Note (2.514) Monthly, weekly and semiannual value levels are 2.603, 2.621 and 3.227 with daily and annual pivots at 2.472 and 2.476, and quarterly and annual risky levels at 2.252 and 1.981. Comex gold has a positive daily chart with the precious metal above its 50-day SMA at $1342.7. The 200-day SMA declined to $1435.4. The weekly chart shifts to neutral with a close this week above its five-week MMA at $1326.9. The 200-week SMA is $1478.3. Crude oil remains below its 200-day SMA at $98.65 as the daily chart remains oversold. The weekly chart remains negative with a weekly close below its five-week MMA at $102.48 and the 200-week SMA at $91.48. This is a sign of a weak economy. The euro vs. the dollar is above its 50-day and 200-day SMAs at $1.3446 and 1.3209 with another new 52-week high at 1.3825. The weekly chart remains positive but overbought with the five-week MMA at 1.3536 and the 200-week SMA at 1.3328. Comex Gold ($1345.8) Weekly and monthly value levels are $1266.6 and $1145.2 with a daily pivot at $1366.6, and quarterly and annual risky levels at $1435.6, $1599.9 and $1852.1. Nymex Crude Oil ($97.06) Monthly and daily pivots are $99.84 and $96.36 with weekly, semiannual, quarterly and annual risky levels at $102.80, $109.84, $114.36 and $115.23. The Euro (1.3801) Annual, quarterly, monthly and semiannual value levels are 1.3257, 1.2805, 1.2782, 1.2756 and 1.2477 with a daily pivot at 1.3824 and annual risky level at 1.4295. The daily chart for the Dow Industrial Average is positive but overbought with the 50-day SMA at 15,167.09 and its Sept. 18 all time high at 15,709.59. The S&P 500 is positive but overbought with its 50-day SMA at 1685.25 and its Oct. 22 all time high at 1759.33. The Nasdaq is positive but overbought with its 50-day SMA at 3735.95 and its multi-year high at 3947.67 set on Oct. 22. The Dow Transportation Average is positive but overbought with its 50-day SMA at 6561.31 and its Oct. 24 all time high at 7031.92. The Russell 2000 is positive but overbought with its 50-day SMA at 1060.32 and new all time high at 1121.53 set on Oct. 22.

The weekly chart for Dow Industrials shifts to positive with a close this week above its five-week MMA at 15,300.26. The weekly chart for the S&P 500 remains positive with its five-week MMA at 1707.81. The weekly chart for the Nasdaq stays positive but overbought with its five-week MMA at 3795.89 as momentum remains well above 80.00 at 93.75. The weekly chart for Dow Transports is positive but overbought with its five-week MMA at 6688.76. The weekly chart for the Russell 2000 remains positive but overbought with its five-week MMA at 1080.11 as momentum remains above 80.00 and 92.30. The major equity averages have entered a wide zone of risky levels, except Dow Industrials. Monthly, semiannual and quarterly risky levels are 15,932, 16,490 and 16,775 Dow Industrials, 1853.8 S&P 500, 4025 Nasdaq, 7104 and 7205 Dow Transports and 1163.21 Russell 2000. Monthly and semiannual pivots are 1746.4 and 1743.5 S&P 500, 3830 and 3759 Nasdaq, 6811 Dow Transports and 1092.46 and 1089.42 Russell 2000. My annual value levels remain at 12,696 Dow Industrials, 1348.3 S&P 500, 2806 Nasdaq, 5469 Dow Transports, and 809.54 Russell 2000. Daily Dow: (15,509) Semiannual and annual value levels are 14,724 and 12,696 with daily and weekly pivots at 15,500 and 15,418, the Sept. 18 all time high at 15,709.59, and monthly, semiannual and quarterly risky levels at 15,932, 16,490 and 16,775. S&P 500 (1751.8) Weekly, semiannual and annual value levels are 1727.5, 1606.9, 1400.7 and 1348.3 with semiannual and monthly pivots at 1743.5 and 1746.4, the Oct. 22 all time high at 1759.33, and daily and quarterly risky levels at 1769.6 and 1853.8. NASDAQ (3929) Weekly, monthly, annual, semiannual and annual value levels are 3888, 3830, 3759, 3668 and 2806 with the Oct. 22 multi-year high at 3947.67, and daily and quarterly risky levels at 3968 and 4025. NASDAQ 100 (NDX) (3362) Semiannual, weekly, monthly and annual value levels are 3304, 3226, 3254 and 2463 with the Oct. 22 multi-year high at 3384.35, and daily and quarterly risky levels at 3406 and 3477. Dow Transports (7023) Weekly and annual value levels are 6710, 5925 and 5469 with a monthly pivot at 6811, the Oct. 24 all time high at 7031.92, and daily, semiannual and quarterly risky levels at 7065, 7104 and 7205. Russell 2000 (1119.69) Weekly, semiannual, monthly and annual value levels are 1102.54, 1089.42, 1092.46, 860.25 and 809.54 with the Oct. 22 all time high at 1121.53, and daily and quarterly risky levels at 1126.93 and 1163.21. The SOX (494.15) My annual value level is 338.03 with the Oct. 22 multi-year high at 508.75, and daily, weekly, monthly, quarterly and semiannual risky level at 499.73, 516.84, 512.13, 514.87 and 533.56. Dow Utilities: (502.18) Daily, weekly and semiannual value levels are 497.68, 485.82 and 481.92 with monthly, quarterly, semiannual and annual risky levels at 512.80, 520.55, 523.33 and 540.37. To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact me at RSuttmeier@gmail.com.