Procter & Gamble ( PG) ($78.96 vs. $78.80 on May 22) set its multi-year high at $82.54 on April 23 well before the Dow peaked. The weekly chart stays negative given a close this week below the five-week MMA at $78.39. My annual value level is $75.13 with an annual pivot at $78.73.

AT&T ( T) ($35.76 vs. $36.94 on May 22) set its multi-year high at $39.00 on April 23 well before the Dow peaked. The weekly chart profile stays negative given a close this week below the five-week MMA at $36.35. My weekly value level is $34.65 with a quarterly pivot at $36.47 and annual risky level at $39.86.

United Technologies ( UTX) ($94.98 vs. $97.55 on May 22) set a new multi-year high at $98.18 on May 22 on the same day the Dow peaked. The weekly chart stays negative on a weekly close below the five-week MMA at $94.25. My annual value level is $90.05 with a semiannual pivot at $94.43 and weekly risky level at $95.52, which was tested at Monday's high.

Verizon ( VZ) ($50.71 vs. $52.07 on May 22) set a multi-year high at $54.31 on April 30 before the May 22 Dow peak. The weekly chart shifts to negative on a close this week below the five-week MMA at $50.79. My monthly value level is $48.25 with a weekly pivot at $51.04, which was a magnet on Monday.

Wal-Mart Stores ( WMT) ($74.95 vs. $77.40 on May 22) set a multi-year high at $79.96 on May 15 a week before the Dow peaked. The weekly chart stays negative on a close this week below the five-week MMA at $76.30. My monthly value level is $72.47 with a weekly pivot at $75.77 and quarterly risky level at $78.49.

At the time of publication the author held no positions in any of the stocks mentioned.

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.

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