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Oc t ober 24, 2014 The Dow Ut i l i t y t r ades t o anot her al l -t i me hi gh on a f l i ght t o qual i t y.

While not one of the five major averages, the dividend-laddened Dow Utility Average traded to an all-
time intraday high at 580.51 on Thursday.

Thursdays closes has only Dow Industrials below its five-week modified moving average at 16819.
Thursdays closes are above the five-week modified moving averages at 1950.3 S&P 500, 4421
Nasdaq, 8305 Dow Transports and 1114.89 Russell 2000.

At last Wednesdays lows the major averages were either in correction mode or close to it. Dow
Industrials down 8.6%, S&P 500 down 9.8%, Nasdaq down 10.7%, Dow Transports down 11.6% and
Russell 2000 down 14.3%.

The all-time or multiyear intraday highs are 17350.84 (Sept. 19) Dow Industrials, 2019.26 (Sept. 19)
S&P 500, 4610.57 (Sept 19) Nasdaq, 8714.94 (Sept. 19) Dow Transports, and 1213.55 (J uly 1)
Russell 2000).

Monthly and quarterly risky levels are 17779 and 18045 Dow Industrials, 2079.2 and 2094.6 S&P 500,
4609 and 4713 Nasdaq, 8790 and 9418 Dow Transports and 1159.82 and 1292.59 on Russell 2000.

Semiannual and annual value levels will remain at 14835 and 13437 Dow Industrials, 1789.3, 1539.1
and 1442.1 S&P 500, 3972, 3471 and 3063 Nasdaq, 7423, 6249 and 5935 Dow Transports and
966.72 and 879.39 Russell 2000 with a semiannual pivot at 16301 Dow Industrials.

Semiannual risky levels remain at 18522 Dow Industrials, 2080.3 S&P 500, 4642 Nasdaq and 1285.37
on the Russell 2000. Semiannual pivots remain at 8447 Dow Transports and 1139.81 Russell 2000.

Dow Industrials: (16678) Daily, semiannual and annual value levels are 16520, 16301,14835 and
13467 with the Sept. 19 all-time intraday high at 17350.64 and monthly, quarterly and semiannual risky
levels at 17779, 18045 and 18552.
S&P 500 (1950.8) Daily, semiannual and annual value levels are 1939.4, 1789.3, 1539.1 and 1442.1
with the Sept. 19 all-time intraday high at 2019.26, and monthly, quarterly and semiannual risky levels
at 2079.2, 2094.2 and 2080.3.
NASDAQ (4453) Semiannual and annual value levels are 3972, 3471 and 3063 with a daily pivot at
4440, the Sept. 19 multiyear intraday high at 4610.57 and semiannual and quarterly risky levels at
4691 and 4713.

NASDAQ 100 (NDX) (4012) Daily, semiannual and annual value levels are 3968, 3515, 3078 and
2669 with quarterly and semiannual risky levels at 4060 and 4105, the Sept. 19 multiyear intraday high

at 4118.91, and monthly risky level at 4152.

Dow Transports (8486) Semiannual and annual value levels are 7423, 6249 and 5935 with a
semiannual pivot at 8447, the Sept. 19 all-time intraday high at 8714.94 and daily, monthly and
quarterly risky levels at 8733, 8790 and 9418.
Russell 2000 (1116.49) Annual value levels are 966.72 and 879.39 with daily, semiannual and
monthly risky levels at 1137.40, 1139.81 and 1159.82, the J uly 1 all-time intraday high at 1213.55 and
semiannual and quarterly risky levels at 1285.37 and 1292.59.
The SOX (605.64) Semiannual and annual value levels are 512.94, 371.58 and 337.74 with a
semiannual pivot at 608.03, a daily risky level at 620.68, the Sept. 19 multiyear intraday high 659.64,
and quarterly and monthly risky levels at 687.65 and 691.22.

Dow Utilities: (577.03) Quarterly, annual, semiannual and annual value levels are 553.35, 548.70,
523.72 and 497.53 with a daily pivot at 576.84, the Oct. 23 all-time intraday high at 580.51 and
monthly and semiannual risky levels at 589.67 and 612.49.
10-Year Note (2.277) Monthly, weekly and quarterly value levels are 2.448, 2.414 and 3.258 with an
annual pivot at 2.263 and daily, semiannual and annual risky levels at 2.125, 1.999 and 1.779.
30-Year Bond (3.049) Semiannual, monthly, annual, weekly, and quarterly value levels are 3.082,
3.089,3, 3.202, 3.283, 3.128 and 3.963 with daily and semiannual risky levels at 2.944 and 2.487.
Comex Gold ($1232.4) Weekly and quarterly value levels are $1188.5 and $906.43 with daily,
monthly, semiannual and annual risky levels at $1245.4, $1305.2, $1613.0, $1738.7 and $1747.4.
Nymex Crude Oil ($81.86) A daily value level is $78.94 with a weekly pivot at $86.15 and monthly,
quarterly, semiannual, annual and quarterly risky levels at $100.07, $102.66, $106.48 and $107.52.
The Euro (1.2649) Weekly and semiannual value levels are 1.2361 and 1.2203 with a daily pivot at
1.2749 and monthly, annual and quarterly risky levels at 1.3309, 1.3382 and 1.3603.

The Dollar versus Japanese Yen (108.17) Daily, monthly and annual value levels are 107.00,
105.94 and 93.38 with weekly and quarterly risky levels at 110.71 and 123.64.

The British Pound (1.6032) A weekly value level is 1.5856 with daily, quarterly and annual pivots at
1.6028, 1.6210 and 1.6262 and monthly and semiannual risky levels at 1.6907 and 1.7302.

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