NEW YORK (TheStreet) -- This week's price actions on daily charts vs. weekly charts have conflicting characteristics for some markets. On the daily charts the 200-day simple moving averages came into play on the yield of the 10-Year U.S. Treasury, on Comex gold and Nymex crude oil. The euro vs. the dollar should end the week with a buy signal on its weekly chart.

For the major equity averages, the daily charts became overbought and some now have declining momentum. The weekly charts will likely remain positive for the major equity averages, but Dow Industrials and Dow Transports could end the week with neutral weekly charts.

The 200-day Simple Moving Averages

: The yield on the 10-Year U.S. Treasury note held its 200-day simple moving average at 1.861% on Tuesday and declined on Wednesday and Thursday in anticipation of QE3 after the

FOMC

meets on Sept. 12.

Comex gold broke out above its 200-day simple moving average at $1,649.8 on Wednesday and traded as high as $1,677.5 the Troy ounce on Thursday, as QE3 threatens inflation.

Nymex crude oil broke out above its 200-day simple moving average at $96.74 on Wednesday, but after a high of $98.29 on Thursday, oil closed below Wednesday's low at $96.26 and the 200-day for a "key reversal" day. The reversal in crude oil reflects economic weakness.

Analysis of the yield on the 10-Year Treasury note

(1.673): After trading to an all-time low yield at 1.377% on July 25, the yield of the U.S. Treasury 10-Year note rose to the 200-day simple moving average at 1.863% this week, as shown on the daily chart below.

This was also a test of my semiannual/quarterly value levels at 1.853%/1.869%, which was my target following a call for higher yields after the test of my semiannual risky level at 1.389%. The weekly chart will continue to favor higher yields given a close today above the five-week modified moving average at 1.642%.

Chart Courtesy of Thomson/Reuters

Analysis of Comex Gold

($1672.2): After stabilizing around my annual pivot at $1575.8 the Troy ounce since mid-May, Comex gold gathered upward momentum and broke out above its 200-day simple moving average at $1648.9 on Wednesday.

Strength on gold entered the zone of my semiannual risky levels at $1,643.3 and $1,702.5, which were my upside targets. A close today above the five-week modified moving average at $1,607.6 keeps the weekly chart positive, as it has been since Friday, July 27.

Analysis of Nymex Crude Oil

($96.01): Nymex crude oil broke out above its 200-day simple moving average at $96.74 on Wednesday, but closed below that key level on Thursday. This false breakout also resulted in a daily "key reversal" with Thursday's close below Wednesday's low at $96.26.

The weekly chart has been positive since the end of July, and continues to be positive with a weekly close above its five-week modified moving average at $91.12. My monthly value level is $90.40 per barrel with upside to my annual risky level at $103.58.

Analysis of the euro vs the dollar

(1.2559): The euro vs. the dollar has a positive daily chart shown below with the 50-day simple moving average at 1.2375 and the 200-day at 1.2884. The weekly chart becomes positive with a close Friday above the five-week modified moving average at 1.2380. My monthly value level is 1.2237 with a semiannual risky level at 1.2917.

Chart Courtesy of Thomson/Reuters

Analysis of the Dow Industrial Average

(13,057): The daily chart below is negative with the 50-day and 200-day simple moving averages at 12,896 and 12,675. The weekly chart stays positive but overbought with a close today above the five-week modified moving average at 13,005.

A close below the five-week shifts the chart to neutral. My annual value level is 12,312 with monthly and annual risky levels at 13,625 and 14,032. A close today below last week's low at 13,112 defines a weekly "Key Reversal."

Chart Courtesy of Thomson/Reuters

Analysis of the S&P 500

(1402.1): The weekly chart remains positive with a close Friday above the five-week modified moving average at 1381.5. My annual pivot is 1363.2 with my monthly risky level at 1458.2.

Analysis of the Nasdaq

(3053): The weekly chart remains positive with a close today above the five-week modified moving average at 2973. My annual value level is 2698 with monthly risky level at 3194.

Analysis of the Dow Transportation Average

(5115): The weekly chart for the Dow Transports stays positive with a weekly close above the five-week modified moving average at 5125. Otherwise, the weekly chart shifts to neutral for a failed buy signal from last week. Semiannual value levels are 4449 and 4129 with a monthly risky level at 5373.

Analysis of the Russell 2000

(806.00): The weekly chart remains positive with a weekly close above the five-week modified moving average at 797.80. My semiannual value level is 686.25 with my annual and monthly risky levels at 836.15 and 846.66.

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

.