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 17, 2014 Dow Industrials ended last week below its five-week MMA at 16158.

The Dow Industrials, S&P 500 and Nasdaq have negative daily charts while Dow Transports and Russell 2000 have neutral daily charts. We have not seen a new high since Friday. March 10 was the five year anniversary of the market lows of March 2009 and since then no new highs have occurred. The Dow Industrial Average remains below its all-time high set on Dec. 31 at 16,588.25. The S&P 500 is below its all-time intraday high at 1883.57 set on March 7. The Nasdaq is below its multiyear intraday high at 4371.71 set on March 6. The Dow Transportation Average is below its all-time high at 7627.44 set on March 7. The Russell 2000 is below its all-time high at 1212.82 set on March 4. Dow Industrials: (16,066) Weekly and annual value levels are 15,660, 14,835 and 13,467 with daily and semiannual pivots at 16,179 and 16,245, the Dec. 31 all-time intraday high at 16,588.25 and monthly, quarterly and semiannual risky levels at 16,644, 16,761 and 16,860. S&P 500 (1841.1) Weekly, semiannual and annual value levels are 1820.1, 1797.3, 1764.4, 1539.1 and 1442.1 with a daily risky level at 1852.9, the March 7 all-time intraday high at 1883.57, and quarterly and monthly risky levels at 1896.0 and 1930.7. NASDAQ (4245) Semiannual and annual value levels are 3930, 3920, 3471 and 3063 with weekly, daily and semiannual pivots at 4247, 4262 and 4274, the March 6 multiyear intraday high at 4371.71 and monthly risky level at 4567. NASDAQ 100 (NDX) (3628) Semiannual and annual value levels are 3456, 3458, 3078 and 2669 with daily, weekly and quarterly pivots at 3650, 3655 and 3714, the March 6 multiyear intraday high at 3738.32 and monthly risky level at 3925. Dow Transports (7476) Weekly, semiannual, quarterly and annual value levels are 7305, 7376, 7245, 7086, 6249 and 5935 with a daily risky level at 7601, the March 7 all-time intraday high at 7627.44 and monthly risky level at 7802. Russell 2000 (1181.41) Weekly, semiannual and annual value levels are 1154.81, 1133.29, 1130.79, 966.72 and 879.39 with daily and quarterly pivots at 1176.30 and 1180.35, the March 4 all-time intraday high at 1212.82 and monthly risky level at 1253.12. The SOX (562.48) Quarterly, semiannual and annual value levels are 536.98, 490.52, 371.58 and 337.74 with semiannual and monthly pivots at 548.36 and 561.69, weekly and daily risky levels at 567.84 and 569.65 and the March 7 multiyear intraday high at 577.64. Dow Utilities: (522.29) Daily, monthly, semiannual, annual and quarterly value levels are 513.35, 510.88, 504.74, 497.53 and 496.84 with semiannual, weekly and annual risky levels at 524.37, 534.54 and 548.70.

The yield on the US Treasury 10-Year note (2.645%) is below its 21-day, 50-day and 200-day SMAs at 2.711%, 2.761% and 2.671% with my quarterly pivot at 2.628% which was tested on Friday. The weekly chart shows this yield below its five-week MMA at 2.730% with its 200-week SMA at 2.420%. The yield on the US Treasury 30-Year bond (3.587%) is below its 21-day, 200-day and 200-day SMAs at 3.664%, 3.706% and 3.696%. The weekly chart shows this yield below its five-week MMA at 3.680% with its 200-week SMA at 3.540%. Comex Gold ($1379.0) remains above its 21-day, 50-day and 200-day SMAs at $1337.8, $1287.4 and $1302.4 on a positive but overbought daily chart and monthly and quarterly pivots at $1373.0 and $1385.0. The weekly chart is positive but overbought with its 5-week MMA at $1312.6 and the 200week SMA at $1492.7. Nymex Crude Oil ($98.89) is below its 21-day and 200-day SMAs at $101.60 and $100.18 and above its 50-day SMA at $98.29. The weekly chart is negative with its five-week MMA at $99.80 with the 200week SMA at $93.28. The Euro (1.3914) has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at 1.3780, 1.3680 and 1.3483 with my monthly risky level at 1.4112. The weekly chart is positive with its five-week MMA at 1.3756 and the 200-week SMA at 1.3331. To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact me at RSuttmeier@gmail.com.