Small Caps Tried to Breakout on Friday but Failed.

8/2/2019 Small Caps Tried to Breakout on Friday but Failed.

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Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com.ValuEngine is a fundamentally-based quant research firm in Newtown, PA. ValuEnginecovers over 7,000 stocks every day.

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Apri l 2 , 2012 Smal l Caps Tr ied to Breakout on Fr iday but Fai led.

The Russell 2000 opened above my annual pivot at 836.15 on Friday, but the move was short-

lived. This attempt was the third failed try for a breakout in two weeks. We begin the secondquarter with a neutral zone between annual pivots at 1363.2 on the S&P 500 and 836.15 on theRussell 2000. New quarterly value levels are 12,794 Dow Industrials, 1337.7 SPX and 2911NASDAQ. My quarterly pivot is 829.34 on the Russell 2000. My quarterly risky level is 5420 onDow Transports. We can still see new 52-week highs for Industrials, S&P 500 and NASDAQ, bumy prediction remains that Dow Transports and Russell 2000 will continue to lag 2011 all timehighs at 5627.85 set on July 7th and 868.57 set on May 2nd. The yield on the 10-Year US Treasurshould continue to trade between my annual value level at 2.502 and semiannual risky level at1.903. Gold is influenced by a semiannual pivot at $1635.8, which has been a strong magnetyear to date. A weekly close below $1635.8 indicates risk to my annual value level at $1575.8.For crude oil we need weekly closes above a new quarterly value level at $101.55. The euro

versus the dollar will be influenced by a quarterly pivot at 1.3366.10-Year Note (2.216) Weekly and annual value levels are 2.276 and 2.502 with daily, semiannual,quarterly and monthly risky levels at 2.092, 1.903, 1.407 and 1.306.

Courtesy of Thomson / Reuters


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Comex Gold ($1667.5) Semiannual and annual value levels are $1635.8 and $1575.8 with daily,weekly and semiannual pivots at $1681.2, $1673.4 and $1659.5, and monthly and quarterly risky

levels at $1763.7 and $1871.9.


Nymex Crude Oil ($103.09) Quarterly, monthly and semiannual value levels are $101.55, $97.55and $79.83 with annual and semiannual pivots at $103.58 and $104.84, daily, weekly and annual riskylevels at $105.12, $112.64 and $117.00.



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The Euro (1.3341) Semiannual and monthly value levels are 1.2980 and 1.2529 with daily, weeklyand quarterly pivots at 1.3368, 1.3345 and 1.3366, and annual and semiannual risky levels at 1.4239

and 1.4405.


Daily Dow: (13,212) Daily, quarterly, monthly, and annual value levels are 13,138, 12,794, 12,469 and12,312 with a weekly pivot at 13,220 and annual risky level at 14,032.



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S&P 500 (1408.5) Annual, quarterly and monthly value levels are 1363.2, 1337.7, 1286.2 with dailyand weekly pivots at 1405.1 and 1416.9 and annual risky level at 1562.9.

NASDAQ (3092) Quarterly, monthly and annual value levels are 2911, 2770 and 2698 with daily,weekly and annual risky levels at 3111, 3114 and 3232.

NASDAQ 100 (NDX) (2755) Quarterly, annual, monthly and annual value levels are 2608, 2603,2507 and 2300 with daily and weekly risky levels at 2774 and 2799.

Dow Transports (5253) Daily, weekly, monthly and semiannual value levels are 5235, 5082, 4748and 4407 with quarterly, and annual risky levels at 5420 and 5861. The all time high was set at5627.85 on July 11, 2011. A weekly close below its five-week modified moving average at 5219shifts the weekly chart to negative.

Russell 2000 (830.30) Weekly and monthly value levels are 815.36 and 726.19 with quarterly, daily

and annual pivots at 836.22, 829.34 and 836.15. The all time high was set at 868.57 on May 2, 2011.

The SOX (438.64) Weekly, quarterly and monthly value levels are 431.47, 416.01 and 397.34 with adaily pivot at 440.24 and annual risky level at 520.61. The 2011 high is 474.33 set on February 18,2011.

ValuEngine Valuation Model: 50.3% of all stocks are undervalued / 49.1% of all stocks are overvalued. Back on October 4th

93.5% of all stocks were undervalued. Fifteen of sixteen sectors are overvalued; four by double-digit percentages. Finance is 15.7%

OV. Computers & Technology is 18.9% OV. Retail-Wholesale is 16.8% OV. Medical by 13.4%.Back in March 2009 all sectors were undervalued by 33% to 45%.

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Definition of MOJO This is my term for technical momentum. I use whats called 12x3x3 slow

stochastic readings from daily, weekly and monthly charts. The scale is zero to 10.0 where above 8.0is overbought and below 2.0 is oversold.

Buy and Trade Strategies for Long Positions Value Level The price at which you establish an additional long position on share price

weakness. This is done on a GTC Limit Order to buy weakness to the Value Level. Risky Level The price at which you remove a single long position or reduce a multiple

long position on share price strength. This is done on a GTC Limit Order to sell strength tothe Risky Level.

Buy and Trade Strategies for Short Positions Value Level The price at which you remove a single short position or reduce a multiple

short position on share price weakness. This is done on a GTC Limit Order to buy weaknesto the Value Level.

Risky Level The price at which you establish an addition short position on share pricestrength. This is done on a GTC Limit Order to sell strength to the Risky Level.

Richard SuttmeierChief Market StrategistValuEngine.com(800) 381-5576

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Small Caps Tried to Breakout on Friday but Failed.

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