Northrop Grumman ( NOC) ($80.86) set a multi-year high at $83.28 on May 17. The weekly chart is positive but overbought with the five-week MMA at $76.09. My semiannual value level is $76.63 on this hold rated aerospace stock with a weekly risky level at $82.66. After I graduated from Georgia Tech in 1966, I worked at Grumman when the company was the largest employer on Long Island. As a "Grummanite" I was proud to have helped put man on the moon in 1969, and was thrilled when Grumman won the contract to design and build the F-14 Tom Cat.
Raytheon ( RTN) ($66.24) set a new multi-year high at $67.44 on Wednesday. The weekly chart is positive but overbought with the five-week MMA at $62.36. My annual value level is $64.74 with an annual risky level at $69.36. United Technologies ( UTX) ($96.25) set a new multi-year high at $98.18 on Wednesday. The weekly chart is positive but overbought with the five-week MMA at $94.42. My semiannual value level is $94.43 with no risky levels. United Technologies is in the multi-sector conglomerate sector, but it must be included today for its Pratt & Whitney jet engines and for its Sikorsky Helicopters which include the Black Hawk. 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.