8/9/2019 The Dow Powers above its 200-day simple moving average at 10,321

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Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com . ValuEngine is a fundamentally-based quant research firm in Princeton, NJ. ValuEnginecovers over 5,000 stocks every day.

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June 16 , 2010 The Dow Powers above its 200-day simple moving average at 10,321

The yield on the 10-Year Treasury rises only slightly. Gold holds its 21-day simple movingaverage. The euro is getting closer to my quarterly pivot at 1.2450. Crude oil tested my annualpivot at $77.05. The Dow is above its annual pivot at 10,379 with a continued positive dailychart, negative weekly chart and overbought monthly chart. NAHB Housing Market Indexplunges.

US Treasury Yields The trading range continues for the yield on the 10-Year - between the 200-daysimple moving average at 3.548 and the recent low yield at 3.061. On Thursday the US Treasuryannounces its next supply deluge and next week will auction $40 billion 2-Year notes on Tuesday, $39billion 5-Year notes on Wednesday and $30 billion 7-Year notes on Thursday.

Chart Courtesy of Thomson / Reuters

Comex Gold held its 21-day simple moving average at $1216.0 with the 50-day as lower support at$1190.5. Gold is still consolidating last weeks move to a new all time high at $1254.4 with decliningMOJO. Semiannual support is $1186.5 with daily, monthly and weekly resistances at $1253.7, $1265.9and $1272.9.

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Courtesy of Thomson / Reuters

Nymex Crude Oil shows rising MOJO on its daily chart with the 200-day simple moving average at$76.78. My annual pivot at $77.05 has been tested, but gasoline in my community remains at $2.53 pergallon. This weeks support is $68.34 with monthly resistance at $85.93.

Courtesy of Thomson / Reuters

The Euro is no longer oversold on its daily chart. Daily and weekly supports are 1.2059 and 1.1564with quarterly and monthly resistances are 1.2450 and 1.2679.

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Courtesy of Thomson / Reuters

Daily Dow: The Dow made it above the 200-day simple moving average and my annual pivot at 10,321and 10,379 on Tuesday, which is not surprising given daily closes above the 21-day at 10,163 and therising MOJO. The next barrier is the 50-day at 10,625. My call remains that the April 26 th high at 11,258ended the bear market rally since March 2009, and starts the second leg of the multi-year bear market.

Courtesy of Thomson / Reuters

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Weekly Dow: The Dow ended last week below its 200-week simple moving average at 11,105, aftertesting the 61.8% Fibonacci Retracement of the October 2007 to March 2009 low at 11,246 with theApril 26 th high at 11,258. MOJO is declining and weekly closes below the 5-week modified movingaverage at 10,381 keeps the weekly chart profile negative. My annual pivot is 11,235 with monthly andsemiannual resistances at 10,958 and 11,442. I still predict Dow 8,500 before Dow 11,500.

Courtesy of Thomson / Reuters

Monthly Dow: shows overbought MOJO and a close in June below the five-month modified movingaverage at 10,256 shifts the monthly chart to negative, which would be another technical signal that theMulti-Year Bear Market is back. The 120-month simple moving average is a resistance at 10,459.

Courtesy of Thomson / Reuters

8/9/2019 The Dow Powers above its 200-day simple moving average at 10,321

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Home Builder Confidence Plunges in June - There was a surge in the National Association of HomeBuilders Housing Market Index from February through May as builders saw demand for home buyerstrying to beat the April 30 th deadline to take advantage of the home buyer tax credits. The HMI rose

from 17 in February to 22 in May and gave it all back in the June reading. Home builders are concernedthat the fall-off in consumer interest in new homes will be larger than expected.

Home builders are optimistic that an improving economy, rising employment, low mortgage rates andstabilizing home prices will eventually offset the negatives: serious problems in obtaining financing forthe production of housing, faulty appraisal practices and competition from foreclosures and short sales.Remember that a reading of 50 is neutral so a reading of 17 is extremely pessimistic.

Thats todays Four in Four. Have a great day.

Richard SuttmeierChief Market Strategistwww.ValuEngine.com (800) 381-5576

As Chief Market Strategist at ValuEngine Inc, my research is published regularly on the website www.ValuEngine.com . Ihave daily, weekly, monthly, and quarterly newsletters available that track a variety of equity and other data parameters aswell as my most up-to-date analysis of world markets. My newest products include a weekly ETF newsletter as well as theValuTrader Model Portfolio newsletter. I hope that you will go to www.ValuEngine.com and review some of the sampleissues of my research.

I Hold No Positions in the Stocks I Cover.