Analysis of the Euro vs. the Dollar (1.3088): The weekly chart shifts to positive on a weekly close above the five-week MMA at 1.2927 with upside potential to the 200-week SMA at 1.3518. My monthly value level lags at 1.2203 with semiannual and quarterly pivots at 1.2917 and 1.3048.
Analysis of the Dow Industrial Average (13,170.72): The Dow set a QE4 reaction high at 13,329.44 on Wednesday on an overbought daily chart. The QE3 high was 13,661.87 set on Oct. 5. The bungee jump bottom was 12,471.48 set on Nov. 16. The weekly chart stays positive with a close today above the five-week MMA at 13,086.55. Below is my monthly value level at 12,826 with my annual value level at 12,312.
Analysis of the S&P 500 (1419.45): The S&P 500 set a QE4 reaction high at 1438.59 on Wednesday on an overbought daily chart. The QE3 high was 1474.51 set on Sept. 14. The bungee jump bottom was 1343.35 set on Nov. 16. The weekly chart stays positive with a close today above the five-week MMA at 1411.89. Below are my monthly and annual value levels at 1378.6 and 1363.2.
Analysis of the Nasdaq (2992.16): Set a QE4 reaction high at 3035.19 on Wednesday on a neutral daily chart. The QE3 high was 3196.93 set on Sept. 21. The bungee jump bottom was 2810.80 set on Nov. 16. The weekly chart stays positive with a close today above the five-week MMA at 2985.36. Below are my monthly and annual value levels at 2893 and 2698.Analysis of the Nadaq 100 (2654.01): The daily chart shows what technicians call a "Death Cross" with the 50-day SMA at 2670.82 declining below the 200-day SMA at 2672.40. The weekly chart is poised for a weekly close below the five-week MMA at 2656.54. My annual pivot is 2603 with my monthly value level at 2596. The Nasdaq 100 is well below its QE3 high at 2878.38, set on Sept. 21. Analysis of the Dow Transportation Average (5182.16): The 2012 trading range has a year to date high of 5390.11 set on March 19 and a year to date low of 4795.28 set on June 4. The daily chart is overbought and the weekly chart stays positive on a close today above the five-week MMA at 5086.15. My monthly value level is 4930.
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