Professional Documents
Culture Documents
October 22, 2010 – Declining MOJO for Gold, Oil and Euro should weigh on stocks.
The yield on the 10-Year note is in a sideways pattern that anticipates the Fed’s QE2 initiatives.
My monthly pivot is 2.555 with my quarterly and semiannual risky levels at 2.265 and 2.249.
Gold failed to hold my monthly pivot at $1343.7 and my quarterly value level is at $1306.4.
Crude oil is between my annual pivot at $77.05 and my semiannual and monthly risky levels at
$83.94 and $84.74. The euro tried to rally to this week’s risky level at 1.4074 but fell short. My
quarterly value level is 1.3318. The Dow remains overbought and traded above its April 26th
closing high of 11,205.03 on Thursday but did not close above that Dow Theory milestone. Dow
Transports did not come close to its May 3rd at 4806.1 and a mixed close would not have been a
Dow Theory Buy Signal. Thursday’s high on the Dow Industrial Average at 11,213.54 was only
21.46 points below my annual risky level at 11,235 with my semiannual risky level is 11,296.
10-Year Note – (2.536) Daily, weekly, annual and annual value levels are 2.604, 2.620, 2.813 and
2.999 with a monthly pivot at 2.555, and quarterly and semiannual risky levels at 2.265 and 2.249.
Nymex Crude Oil – ($80.63) My annual value level is $77.05 with daily and weekly pivots at $81.29
and $82.38, and semiannual and monthly risky levels at $83.94 and $84.74.
Daily Dow: (11,147) Monthly, semiannual, annual and quarterly value levels are 10,857, 10,558,
10,379 and 8,523 with a daily pivot at 11,167, and weekly, annual and semiannual risky levels at
11,229, 11,235, and 11,296. My annual risky level at 11,235 was tested at the April 26th high of
11,258.01.