This month's risky level is at an all-time high at 15,932 with semiannual and quarterly risky levels at 16,490 and 16,775. The upside to these levels is 9% and 10.9%, while the downside to the first annual level is 16.1%.
This week, I wrote four articles concerning topping out issues. On Wednesday, I wrote, Tracking Sector ETF Bubble Characteristics where I showed that eight of 11 key sector-oriented exchange-traded funds may have peaked in the Sept. 19/Sept. 20 window.
All 11 ETFs ended Wednesday below their 50-day SMAs. Six popped back above these key levels, while four came back to a test and one stayed below its 50-day SMA. All 11 stayed shy of the risky levels I showed in the table in that report.
Also on Wednesday, I wrote, The Ups and Downs Among Internet Stocks, and surprisingly while these stocks rebounded on Thursday, the upside volatility was muted vs. the recent downside. For example, Google (GOOG) ($868.24 vs. $853.67 on Oct. 9) stayed below my semiannual pivot and risky level at $880.49 and $892.48.On Thursday, I wrote, 11 Dow Components vs. Their 200-Day Moving Averages, and the stocks that flipped back above their 200-day SMAs are Cisco Systems (CSCO), Intel Corp (INTC), Pfizer (PFE), and Procter & Gamble (PG). The overall DJIA tested and held its 200-day as shown above. That reflects that this average experienced a reversion to the mean.
At the time of publication, the author held no positions in any of the stocks mentioned. Follow @Suttmeier This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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