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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March 4, 2014 The major averages continue to straddle key pivots.

The Dow Industrials traded below its 50-day simple moving average at 16,155 but close above this key level. The Nasdaq ended Monday above its quarterly pivot at 4274 with Dow Transports above its semiannual pivot at 7245 and right on its five-week modified moving average at 7303. The Russell 2000 stayed below its quarterly pivot at 1180.35. Dow Industrials: (16,168) Weekly and annual value levels are 15,790, 14,835 and 13,467 with my semiannual pivot at 16,245, the Dec. 31 all-time intraday high at 16,588.25 and daily, monthly, quarterly and semiannual risky levels at 16,349, 16,644, 16,761 and 16,860. S&P 500 (1845.7) Weekly, semiannual and annual value levels are 1823.0, 1797.3, 1764.4, 1539.1 and 1442.1 with a daily risky level at 1864.4, the Feb. 28 all-time intraday high at 1867.89, and quarterly and monthly risky levels at 1896.0 and 1930.7. NASDAQ (4277) Semiannual and annual value levels are 3930, 3920, 3471 and 3063 with semiannual and weekly pivots at 4274 and 4280, a daily risky level at 4337, the Feb. 28 multiyear intraday high at 4342.59 and monthly risky level at 4567. NASDAQ 100 (NDX) (3668) Semiannual and annual value levels are 3456, 3458, 3078 and 2669 with weekly, daily and quarterly pivots at 3684, 3705 and 3714, the Feb. 28 multiyear intraday high at 3722.38 and monthly risky level at 3925. Dow Transports (7303) Semiannual, quarterly and annual value levels are 7245, 7086, 6249 and 5935 with weekly and semiannual pivots at 7338 and 7376, the Jan. 23 all-time intraday high at 7591.43 and daily and monthly risky levels at 7467 and 7802. Russell 2000 (1176.36) Weekly, semiannual and annual value levels are 1156.00, 1133.29, 1130.79, 966.72 and 879.39 with a quarterly pivot at 1180.35, the Feb. 28 all-time intraday high at 1193.50 and daily and monthly risky levels at 1202.19 and1253.12. The SOX (560.23) Quarterly, semiannual and annual value levels are 536.98, 490.52, 371.58 and 337.74 with semiannual, monthly, daily and weekly pivots at 548.36, 561.69, 564.86 and 565.14 and Feb. 26 multiyear intraday high at 568.24. Dow Utilities: (514.19) Monthly, semiannual, annual and quarterly value levels are 510.88, 504.74, 497.53 and 496.84 with daily, semiannual, weekly and annual risky levels at 519.87, 524.37, 533.97 and 548.70. The yield on the US Treasury 10-Year note (2.603%) spent a day below its 200-day SMA at 2.641 and is back above it this morning with its 21-day and 50-day SMAs at 2.691% and 2.798%. The weekly chart shows this yield between its 200-week SMA at 2.423% and its five-week MMA at 2.723%.

The yield on the US Treasury 30-Year bond (3.556%) is below its 21-day, 50-day and 200-day SMAs at 3.654%, 3.742% and 3.675%. The weekly chart shows this yield between its 200-week SMA at 3.543% and its five-week MMA at 3.678%. Comex Gold ($1351.0) remains above its 200-day SMA at $1304.7 with the 21-day and 50-day SMAs at $1304.7 and $1263.1 on a neutral daily chart. The weekly chart remains positive with its 5-week MMA at $1295.2 and the 200-week SMA at $1,491.9. A potential problem for gold is a lack of a value level from my proprietary analytics with this weeks pivot at $1335.2. Nymex Crude Oil ($104.63) remains well above its 200-day SMA at $99.97 and its 21-day and 50-day SMAs at $100.99 and $98.13. The weekly chart is positive but overbought with five-week MMA at $100.22 and the 200-week SMA at $93.15. The Euro (1.3732) has a neutral daily chart with the 21-day, 50-day and 200-day SMAs at 1.3682, 1.3656 and 1.3452 with my monthly risky level at 1.4112. The weekly chart is positive with five-week MMA at 1.3694 and the 200-week SMA at 1.3323. To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact me at RSuttmeier@gmail.com.