NEW YORK ( TheStreet) -- Friday's closes did not confirm the May 20/May 22 highs as cycle highs for the five major equity averages because weekly closes straddled their five-week modified moving averages at; 14,973 Dow industrials, 1613.8 S&P 500, 3397 Nasdaq, 6242 Dow transports and 971.81 Russell 2000. If this week closes are below these key levels the weekly chart profiles will be negative, confirming the May 20/May 22 highs as cycle highs.Friday's closes provided inputs to my proprietary analytics resulting in new weekly, monthly, quarterly and semiannual value levels, pivot and risky levels that appear to be in sync for the five major equity averages. The Dow Industrial Average (14,910): My quarterly value level is 14,288 with weekly and monthly risky levels at 15,210 and 15,437, which are below the May 22 all-time high at 15,542.40. My annual value level is 12,696 with a semiannual pivot at 14,724 and semiannual risky level at 16,490. A way to trade the stocks in the Dow is via the SPDR Dow Jones Industrial ( DIA) ($148.55) ETF. My quarterly value level is $142.41 with weekly and monthly risky levels at $151.94 and $154.05. Note that the weekly chart profile is negative with Friday's close below the five-week modified moving average at $149.41 with the 12x3x3 weekly slow stochastic reading declining below 80.00 at 67.58.