NEW YORK (TheStreet) -- The Dow Jones Industrial Average set an all-time intraday high of 16735.51 on May 13, lagging the S&P 500 and Dow transports, which set all-time intraday highs at 1924.03 and 8113.49 on May 30, respectively.
Looking at the second "Crunching the Numbers" table below, we can see that 21 Dow components beat analysts' first-quarter earnings per share estimates. The largest beat was by 82 cents, by Travelers (TRV) - Get Report ($93.25), and the stock is up 11% since April 1. That's the best performance among the Dow 30 stocks.
Three Dow components matched analysts EPS estimates, and since April 1 two of these are trading higher and one is trading lower.
Six Dow components missed analysts' EPS estimates, but only JPMorgan Chase (JPM) - Get Report ($55.57) has lost ground since April 1. Its shares are down 8.4%, making it the worst performer among the Dow 30.
To review our pre-earnings profiles check out, The Dow Earnings Season Mega-Chart, posted on April 2. Since then 22 Dow components are trading higher, one is unchanged and seven have traded lower.
Here are the profiles of the seven Dow stocks that will drive the Dow Industrial Average to a new all-time intraday high in June. The "Crunching the Numbers" tables follow.
These companies are the strongest stocks in terms of momentum. When equity money managers adjust positions going into the end of the second quarter they will likely "window dress", selling year-to-date losers and buying the winners.
DuPont (DD) - Get Report ($69.31) is up 2.3% since April 1 and traded to a multiyear intraday high at $69.38 on May 30. The weekly chart is positive with its five-week modified moving average at $67.46. Holding a semiannual pivot at $69.07 targets semiannual and monthly risky levels at $70.15 and $72.16, respectively. Quarterly and annual value levels are $59.37 and $61.35, respectively.
Disney (DIS) - Get Report ($84.01) is up 3% since April 1 and set an all-time intraday high at $84.39 on May 30. The weekly chart is positive with its five-week MMA at $81.21. Holding a quarterly pivot at $83.23 indicates upside potential to a monthly risky level at $90.26. Weekly and semiannual value levels are $81.62 and $69.93, respectively.
Intel (INTC) - Get Report ($27.32) is up 5.1% since April 1 and set a 52-week intraday high at $27.32 on May 30. The weekly chart is positive with its five-week MMA at $26.29. Holding this week's pivot at $26.94 indicates upside potential to monthly and semiannual risky levels at $28.35 and $28.95, respectively. Semiannual and annual value levels are $26.33 and $20.78, respectively.
Johnson & Johnson (JNJ) - Get Report ($101.46) is up 3.6% since April 1 and is just below its all-time intraday high at $101.98 set on April 29. The weekly chart is positive but overbought with its five-week MMA at $99.49. Quarterly and semiannual value levels are $100.42 and $83.76, respectively. Above a weekly pivot at $101.65 is this month's risky level at $104.84.
Microsoft (MSFT) - Get Report ($40.94) is down just 1.2% since April 1, but recent strength is approaching its multiyear intraday high at $41.66 set on April 1. The weekly chart is positive with its five-week MMA at $39.87. Holding a weekly pivot at $40.17 targets this month's risky level at $44.58. Annual and semiannual value levels are $35.05 and $34.59, respectively.
Travelers (TRV) - Get Report ($93.45) is up 11% since April 1 and set an all-time intraday high at $94.31 on May 29. The weekly chart is positive but overbought with its five-week MMA at $90.23. Monthly and semiannual value levels are $91.96 and $87.73, respectively, with a weekly risky level at $95.90.
Exxon Mobil (XOM) - Get Report ($100.53) is up 2.9% since April 1 and set an all-time intraday high at $103.45 on May 7. The weekly chart is positive but overbought with its five-week MMA at $99.97. Quarterly and semiannual value levels are $96.97 and $91.91, respectively. A move above a semiannual pivot at $100.97 indicates upside potential to weekly and monthly risky levels at $103.67 and $108.16, respectively.
Crunching the Numbers With Richard Suttmeier: Moving Averages & Stochastics
This table provides the technical status for the stocks profiled in today's report.
There are five columns with moving average titles: Five-Week Modified Moving Average; 21-Day Simple Moving Average; 50-Day Simple Moving Average; 200-Day Simple Moving Average; and the 200-Week Simple Moving Average.
The column labeled 12x3x3 Weekly Slow Stochastics shows the pattern on each weekly chart with a reading of oversold, rising, overbought, declining or flat.
Interpretations: Stocks below a moving average are listed in red.
Five-Week Modified Moving Average (MMA) is one of two indicators that define whether a weekly chart profile is positive, neutral or negative. The other is the status of the 12x3x3 weekly slow stochastic.
A stock with a positive technical rating is above its five-week MMA with rising or overbought stochastics.
A stock with a negative technical rating is below its five-week MMA with declining or oversold stochastics.
A stock with a neutral technical rating has a profile that is not positive or negative.
The 200-Week Simple Moving Average (SMA) is considered a long-term technical support or resistance level and as a "reversion to the mean" over a rolling three- to five-year horizon. (Even Apple (AAPL) - Get Report declined to its 200-week SMA in June 2013.)
The 21-Day Simple Moving Average is a short-term technical support or resistance used by many hedge fund traders to adjust positions. A stock above its 21-day SMA will likely move higher over a rolling three- to five-day horizon and vice versa.
The 50-Day Simple Moving Average is also a technical support or resistance used by many strategists and commentators in financial TV.
The 200-Day Simple Moving Average is another technical support or resistance level, and I consider this level as a shorter-term "reversion to the mean" over a rolling six- to 12-month horizon. (Even Apple tested or crossed its 200-day SMA in nine of the last 10 years.)
Crunching the Numbers With Richard Suttmeier: Earnings & Where to Buy & Where to Sell
This table presents the EPS estimates including date and before or after the close, and where to buy on weakness and where to sell on strength.
"EPS Date" is the day the company reports its quarterly results.
"EPS Estimate" is the EPS estimate from Wall Street analysts.
Value Levels, Pivots and Risky Levels are calculated based upon the last nine weekly closes (W), nine monthly closes (M), nine quarterly closes (Q), nine semiannual closes (S) and nine annual closes (A). I have one column for pivots, which is a magnet for the period shown. The columns to the left of the pivots are first and second value levels. The columns to the right of the pivots are first and second risky levels.
Investors who wish to buy a stock should use a good-'til-canceled limit order to buy weakness to a value level. Investors who want to sell a stock should use a GTC limit order to sell strength to a risky level.
At the time of publication the author held no positions in any of the stocks mentioned.
This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff
Richard Suttmeier is the chief market strategist at
ValuEngine.com. He has been a professional in the U.S. Capital Markets since 1972, transferring his engineering skills to the trading and investment world.
Suttmeier has an engineering degree from Georgia Tech and a Master of Science degree from Brooklyn Poly. He began his career in the financial services industry in 1972 trading U.S. Treasury securities in the primary dealer community. He became the first long bond trader for Bache in 1978, and formed the Government Bond Department at LF Rothschild in 1981, helping establish that firm as a primary dealer in 1986. This experience gives him the insights to be an expert on monetary policy, which he features in his newsletters, and market commentary.
Suttmeier's industry licenses include, Series 7 and Registered Principal (Series 24). He has been the Chief Market Strategist for ValuEngine.com since 2008 and often appears on financial TV.
Click here for details on Suttmeier's "Buy and Trade" investment strategy.
Richard Suttmeier can be reached at RSuttmeier@Gmail.com