SUTTMEIER on the US CAPITAL MARKETS

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Todays Daily Markets Briefing By Richard Suttmeier Jan. 8, 2015

Market
The Dow
S&P 500
Nasdaq
Naz 100 (NDX)
Transports
Russell 2000
Semis (SOX)
Utilities

Date

YTD

Date

Market

Date of

% Off

Risky

Value

7-Jan
17,584.52
2,025.90
4,650.47
4,160.00
8,772.38
1,175.97
665.27
621.55

Gains
-1.3%
-1.6%
-1.8%
-1.8%
-4.0%
-2.4%
-3.1%
0.6%

31-Dec
17,823.07
2,058.90
4,736.05
4,236.28
9,139.92
1,204.71
686.87
618.08

Highs
18,103.45
2,093.55
4,814.95
4,347.09
9,310.33
1,221.44
704.44
645.74

Highs
12/26/14
12/29/14
12/26/14
11/28/14
11/28/14
12/31/15
12/8/14
12/29/14

High
-2.9%
-3.2%
-3.4%
-4.3%
-5.8%
-3.7%
-5.6%
-3.7%

Level
19,600
2,268.9
5,245
4,563
10,009
1,382.55
763.90
627.50

Upside
11.5%
12.0%
12.8%
9.7%
14.1%
17.6%
14.8%
1.0%

Level
14,557
1,558.2
3,901
3,660
7,289
954.08
432.78
510.05

%
Down
-17.2%
-23.1%
-16.1%
-12.0%
-16.9%
-18.9%
-34.9%
-17.9%

The major equity averages are below their 50-day simple moving averages at 17632 Dow Industrials, 2041.8
S&P 500, 4692 Nasdaq and 8983 Dow Transports, with the Russell 2000 on the cusp at 1175.50.
All major equity averages are below their five-week modified moving averages at 17683 Dow Industrials,
2047.8 S&P 500, 4708 Nasdaq, 8992 Dow Transports and 1180.60 Russell 2000.
To signal a potential technical correction there needs to be weekly closes below all five-week modified moving
averages with the 12x3x3 weekly slow stochastic readings declining below 8.0.
Dow Industrials: (17585) Annual value levels are 15112 and 14557 with a monthly pivot at 17889, the Dec. 26 alltime high at 18103.45, and weekly, semiannual and quarterly risky levels at 17991, 18328 and 19600.
S&P 500 (2025.9) Annual value levels are 1585.9 and 1558.2 with a semiannual pivot at 2053.3, the Dec. 29 alltime intraday high at 2093.55 and weekly, monthly and quarterly risky levels at 2084.6, 2114.6 and 2268.9.
NASDAQ (4650) Annual value levels are 3901and 3596 with a semiannual pivot at 4635, the Dec.26 multiyear
high at 4814.95, and weekly, monthly and quarterly risky levels at 4846, 4994 and 5245.
Dow Transports (8772) Semiannual and annual value levels are 8452, 7289 and 6635 with the Nov. 28 all-time
intraday high at 9319.33 and weekly, monthly and quarterly risky levels at 9213, 9559 and 10009.
Russell 2000 (1175.97) Annual value levels are 975.84 and 954.08 with weekly, monthly and semiannual pivots at
1196.26, 1201.97 and 1207.39, the Dec.29 all-time intraday high at 1220.81 and semiannual and quarterly risky
levels at 1287.98 and 1382.55.
The SOX (665.27) Semiannual and annual value levels are 600.94 and 432.78 with the Dec. 8 multiyear intraday
high at 704.44 and weekly, monthly and quarterly risky levels at 723.69, 718.95 and 763.90.
Dow Utilities: (621.55) Annual value levels are 525.86 and 510.04 with monthly, weekly and semiannual pivots at
603.89, 612.12 and 621.83, a quarterly risky level at 627.50 and the Dec. 29 all-time intraday high at 645.74.
10-Year Note (1,964%) A quarterly value level is 3.147% with weekly and monthly pivots at 2.103% and 2.079%,
and semiannual and annual risky levels at 1.921%, 1.589%, 1.342% and 0.715%.
30-Year Bond (2.525%) A quarterly value level is 3.690% with annual, semiannual, monthly, and weekly pivots at
3.013%, 2.949%, 2.710% and 2.650%, and semiannual and annual risky levels at 2.177% and 2.169%.
Comex Gold ($1212.6) Comex Gold should stay above its 120-month simple moving average, which began 2015
at $1084.8 the Troy ounce. Monthly and quarterly value levels are $1168.3 and $893.0 with a weekly pivot at
$1211.0, and semiannual and annual risky levels at $1348.9, $1580.7 and $1816.9.
Nymex Crude Oil ($48.38) Nymex Crude Oil will stay below its 120-month simple moving average, which began
2015 at $82.20 per barrel. A weekly value level is $46.32 with the Jan. 2009 low at $33.20. Monthly and semiannual
risky levels are $66.59 and $81.58.
The Euro (1.1834) should stay below its 120-month SMA at 1.3400. A monthly value level is 1.1831 with a weekly
pivot at 1.2098, and semiannual, quarterly and annual risky levels at 1.2828, 1.2899 and 1.3551.
The Dollar vs Japanese Yen (119.09) Monthly and semiannual value levels are117.83 and 112.09 with weekly
and quarterly risky levels at 123.99 and 124.52.
The British Pound (1.5107) An annual value level is 1.2801 with a weekly pivot at 1.5252 and monthly, quarterly
and semiannual risky levels at 1.5643, 1.5821 and 1.6289.