The Nasdaq (3165): Quarterly and annual value levels are 3071, 2806 and 2790 with the Sept. 21, 2012 high at 3196.93 and my monthly risky level at 3250. The Nasdaq 100 Index (2747): Annual value levels are 2463 and 2385 with a quarterly and monthly risky levels at 2798 and 2871. The Dow Transportation Average (5887.34): Ended Thursday at yet another new all-time closing high, which is amazing considering that the transportation sector is 20.4% overvalued. My annual, monthly and quarterly value levels are 5469, 5440 and 5094 with annual and semiannual risky levels at 5925 and 5955. The Russell 2000 (908.10): Annual, quarterly and annual value levels are 860.25, 821.01 and 809.54 with a monthly pivot at 911.32 and semiannual risky level at 965.51. The PHLX Semiconductor Sector Index (419.26): Quarterly and annual value levels are 371.62 and 338.03 with a monthly pivot at 409.08, and quarterly and semiannual risky levels at 440.36 and 520.17. At the time of publication the author held no positions in any of the stocks mentioned.Follow @SuttmeierThis article is commentary by an independent contributor, separate from TheStreet's regular news coverage.