Analysis of the euro vs. the dollar (1.2936): The weekly chart stays positive Friday with a close above the five-week MMA at 1.2861. My monthly value level is 1.2589 with semiannual and quarterly pivots at 1.2917 and 1.3048.
Analysis of the Dow Industrial Average (13,104): The weekly chart shifts to negative with a close Friday below the five-week MMA at 13,357. My annual value level lags at 12,312 with my monthly pivot at 13,506 and annual and quarterly risky levels at 14,032 and 14,192. The QE3 high is 13,661.87 was set on Oct. 5, and the October 2007 high is 14,198.10. Note that the risky levels are below the 2007 high.
Analysis of the Dow Transportation Average (5035): The weekly chart for the Dow Transports shifts back to neutral on a close Friday above the five-week MMA at 5050. My monthly value level is 4859 with the Sept 14 QE3 high at 5231.15. The all time high at 5627.85 was set on July 7, 2011.
Analysis of the S&P 500 (1413.0): The weekly chart shifts to negative with a close Friday below the five-week MMA at 1432.6. My annual value level is 1363.2 with a monthly pivot at 1468.0, and quarterly and annual risky levels at 1513.3 and 1562.9. The Sept. 14 QE3 high is 1474.51 with the October 2007 high at 1576.09. Note that the risky levels are below the 2007 high.Analysis of the Nasdaq (2986): The weekly chart stays negative on a close Friday below the five-week MMA at 3073. The Nov 2007 high is 2861.51 with my annual value level at 2698, and monthly, annual and quarterly risky levels at 3210, 3232 and 3295. The Sept. 21 QE3 high is 3196.93. Analysis of the Russell 2000 (816.82): The weekly chart stays negative with a close Friday below the five-week MMA at 828.73. My semiannual value level is 686.25 with monthly and annual risky levels at 827.70 and 836.15. The Sept. 14 QE3 high is 868.50 with the all time high at 868.57 set on May 2, 2011. Analysis of the Semiconductor Index or SOX (365.48): The weekly chart stays negative on a close Friday below the five-week MMA at 381.93. The 200-week simple moving average is 356.00 with my monthly risky level at 385.39 and the Sept. 14 high at 410.82.
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