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Stock Risky Despite Dow's First-Ever Monthly Close Above 14,000

Dow Transportation Average (5993): Monthly, annual and quarterly value levels are 5522, 5469 and 5094 with my annual and semiannual pivots at 5925 and 5955.

The Russell 2000 (911.11): Annual, quarterly and annual value levels are 860.25, 821.01 and 809.54 with a monthly pivot at 901.68 and semiannual risky level at 965.51.

In sum, closes today above all new monthly pivots at 13,949 Dow industrials, 1528.6 S&P 500, 3197 Nasdaq, and 901.68 Russell 2000 indicates potential strength to the risky levels at 14,323 Dow industrials, 1566.9 S&P 500 and 965.51 Russell 2000.

Closes below these monthly pivots indicates risk to the monthly value level at 5522 Dow transports. The other first value levels are 13,668 Dow industrials, 1431.1 S&P 500, 3071 Nasdaq and 860.25 Russell 2000.

I project that there will be additional weekly risky levels for next week's trading.

At the time of publication the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Richard Suttmeier has an engineering degree from Georgia Tech and a master of science from Brooklyn Poly. He began his career in the financial services industry in 1972 trading U.S. Treasury securities in the primary dealer community. In 1981 he formed the Government Bond Department at LF Rothschild and helped establish that firm as a primary dealer in 1986. Richard began writing market research in 1984 and held positions as market strategist at firms such as Smith Barney, William R Hough, Joseph Stevens, and Rightside Advisors. He joined www.ValuEngine.com in 2008 producing newsletters covering the U.S. capital markets, and a universe of more than 7,000 stocks. Richard employs a "buy and trade" investment strategy and can be reached at RSuttmeier@Gmail.com.
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