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Quarterly Value Levels And April’s Monthly Risky Levels For Major Equity Averages

The March 31 closes provided important inputs to my “Black Box Tool.” There are monthly risky levels for April and quarterly value levels for the second quarter.

Every stock ticker and index has monthly, quarterly, semiannual and annual levels. A level below where a market is trading is called a value level at which to “to buy on weakness.” A level above where a market is trading is called a risky level at which “to sell on strength.”

The Dow Jones Industrial Average (.DJI) (33,100 on April 1) has a quarterly value level at 30,546 and a monthly risky level for April at 33,535.

The S&P 500 (.SPX) (4,006 on April 1) has a quarterly value level at 3,809 and a monthly risky level for April at 4,058. SPX is trading at a new all-time high.

The Nasdaq Composite (.IXIC) (13,441 on April 1) has a quarterly value level at 13,001 and a monthly risky level for April at 14,076. IXIC held its 50-day simple moving average this morning.

The Dow Jones Transportation Average (.DJT) (14,657 on April 1) has a quarterly value level at 12,177 and a monthly risky level for April at 15,152.

The Russell 2000 Index (.RUT) (2,241 on April 1) has a quarterly value level at 1,855 and a monthly risky level at 2,324. RUT held its 50-day simple moving average this morning.

Here’s today’s scorecard:

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