Nasdaq 100 Shares ( QQQ) ($68.97) traded to its 2013 high at $69.06 on Thursday, well below my semiannual risky level at $78.39. Strength on Thursday was just shy of the weekly risky level at 69.08. We begin the second quarter with tight quarterly and weekly pivots at $68.95 and $68.80 with a monthly risky level at $69.54. My annual value level is $60.27. The weekly chart profile is extremely overbought with the five-week MMA at $68.05 with the Sept 19, 2012 high at $70.58.

S&P 500 Sector SPDR ( SPY) ($156.67) first tested my semiannual risky level at $156.59 on March 14, then set a new year to date high at $156.85 on Thursday. My weekly risky level was tested at $156.78 on Thursday. My quarterly value level is $144.56 with semiannual and monthly pivots at $156.59 and $156.89 with a weekly risky level at $157.23. My annual value level is $134.74. The weekly chart profile is extremely overbought with the five-week MMA at $153.46.

At the time of publication the author had no position in any of the stocks mentioned.

This article was written 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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