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Jul y 29, 2014 Key movi ng aver ages hel d at Mondays l ow s f or t he f i ve mar ket aver ages

The daily charts shift to negative on daily closes below 21-day simple moving averages at 17,003 Dow
Industrials, 1974.22 S&P 500, 4432.54 Nasdaq and 8311.13 Dow Transports.

Dow Transports are back below my monthly pivot at 8365 and the Russell 2000 traded below its
semiannual pivot at 1139.81.

The weekly charts for Dow Industrials, S&P 500, Nasdaq and Dow Transports remain positive but
overbought with the five-week modified moving averages at 16893, 1955.9, 4374 and 8214,
respectively. The weekly chart for the Russell 2000 remains negative with its five-week MMA at
1160.18.

The Dow Utility Average has declining 12x3x3 weekly slow stochastics so its weekly chart shifts to
negative this week with a close on Friday below its five-week MMA at 554.91.

The PHLX Semiconductor Index (SOX) set a multi-year intraday high at 652.28 on J uly 16 and was up
nearly 22%. Fridays close was below its five-week MMA at 624.94 but it still has an overbought
12x3x3 weekly slow stochastic with its year-to-date gain cut to 15%.

The Housing Sector Index (HGX) ended last week with a negative weekly chart below its five-week
MMA with declining stochastic. It remains below its 61.8% Fibonacci retracement of its decline from
mid-2005 high to the March 2009 low.

The ABA Community Bank Index (ABAQ) also has also has a negative weekly chart and below its
61.8% retracement from its high in December 2006 to the March 2009 low.

This weeks risky levels are 17179 Dow Industrials, 2009.2 S&P 500, 4564 Nasdaq, 8434 Dow
Transports and 1202.15 Russell 2000.

Semiannual and annual value levels are 16301, 14835 and 13437 Dow Industrials, 1789.3, 1539.1
and 1442.1 S&P 500, 3972, 3471, 3063 Nasdaq, 7423, 6249 and 5935 Dow Transports and 1139.81,
966.72 and 879.39 Russell 2000.

Monthly, quarterly and semiannual risky levels are 17364, 17753 and 18522 Dow Industrials, 1994.2,
2052.3 and 2080.3 S&P 500, 4529, 4569 and 4642 Nasdaq, and 1215.89, 1293.11 and 1285.37 on
Russell 2000,

Dow Industrials: (16983) Semiannual and annual value levels are 16301, 14835 and 13467 with a
daily pivot at 16,937, the J uly 17 all-time intraday high at 17151.56, and weekly, monthly, quarterly and

semiannual risky levels at 17179, 17364, 17753 and 18552.
S&P 500 (1978.9) Semiannual and annual value levels are 1789.3, 1539.1 and 1442.1 with a daily
pivot at 1975.0, the J uly 24 all-time intraday high at 1991.39, and monthly, weekly, quarterly and
semiannual risky levels at 1994.2, 2009.2, 2052.3 and 2080.3.
NASDAQ (4445) Semiannual and annual value levels are 3972, 3471 and 3063 with a daily pivot at
4454, the J uly 3 multiyear intraday high at 4485.93 and weekly, monthly, quarterly and semiannual
risky levels at 4564, 4529, 4569 and 4642.

NASDAQ 100 (NDX) (3967) Quarterly, monthly, semiannual and annual value levels are 3936, 3894,
3515, 3078 and 2669 with a daily pivot at 3975, the J uly 24 multiyear intraday high at 3997.50, and
weekly and semiannual risky levels at 4022 and 4105.

Dow Transports (8333) Quarterly, semiannual and annual value levels are 8256, 6249 and 5935
with monthly, daily, weekly and semiannual pivots at 8383, 8356, 8434 and 8447, the J uly 23 all-time
intraday high at 8515.04.
Russell 2000 (1139.50) Annual value levels are 1139.81, 966.72 and 879.39 with semiannual and
daily pivots at 1139.81 and 1144.73, the J uly 1 all-time intraday high at 1213.55, and weekly, monthly,
semiannual and quarterly risky levels at 1202.15, 1215.89, 1285.37 and 1293.11.
The SOX (616.00) Daily, semiannual and annual value levels are 611.65, 608.02, 512.94, 371.58
and 337.74 with quarterly and daily pivots at 626.96 and 627.06, a monthly risky level at 642.34, the
J uly 16 multiyear intraday high 652.28 and weekly risky level at 662.77.

Dow Utilities: (563.48) Annual, quarterly, semiannual and annual value levels are 548.70, 536.44,
523.72 and 497.53, with daily and monthly pivots at 559.61 and 563.54, a weekly risky level at 569.81,
the J une 30 all-time intraday high at 576.98 and semiannual risky level at 612.49.

10-Year Note (2.491) Weekly, monthly and quarterly value levels are 2.620, 2.787 and 3.048 with
daily, annual and semiannual risky levels at 2.425, 2.263, 1.999 and 1.779.
30-Year Bond (3.260) Weekly, monthly and quarterly value levels are 3.396, 3.486 and 3.971 with
an annual pivot at 3.283 and daily, annual and semiannual risky levels at 3.190, 3.107 and 3.082.
Comex Gold ($1304.9) Quarterly and monthly value levels are $1234.6 and $1233.8 with a daily
pivot at $1315.4 and weekly, semiannual and annual risky levels at $1360.2, $1613.0, $1738.7,
$1747.4 and $1818.8.
Nymex Crude Oil ($101.62) No value levels with weekly, daily, monthly, semiannual, annual and
quarterly risky levels at $104.51, $103.86, $105.23, $107.52 and $113.12.
The Euro (1.3433) Annual and semiannual value levels are 1.3382 and 1.2203 with daily and weekly
pivots at1.3423 and 1.3483 and monthly, quarterly, semiannual and annual risky levels at 1.3819,
1.4079, 1.4617 and 1.5512.

The Dollar versus Japanese Yen (101.85) An annual value level is 93.38 with daily and weekly
pivots at 101.43 and 101.88 and monthly and quarterly risky levels at 106.47 and 112.83.

The British Pound (1.6982) Quarterly and annual value levels are 1.6874 and 1.6262 with a daily
pivot at 1.6931 and weekly, semiannual and monthly risky levels at 1.7270,1.7302 and 1.7438.

To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact
me at RSuttmeier@gmail.com.