DecisionPoint

DP BULLETIN: NDX Generates PMO SELL Signal

Erin Swenlin | 

As promised to the MarketWatchers LIVE viewers and my DecisionPoint Faithful, I am updating you on the latest DP Scoreboard signal change. The NDX's momentum finally deteriorated enough to generate a PMO SELL Signal.



The other three indexes (SPX, OEX, INDU) triggered PMO SELL signals earlier this month.

I'm noticing a small double-top formation now on the NDX. An execution would require a drop below 6240 and the expected minimum downside target would be close to support at 6100. Seeing small-caps increasing positive momentum, I'm not so sure we'll see a big drop in the NDX. The margin between the PMO and its signal line is minuscule so I could be publishing another bulletin tomorrow.


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Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

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Technical Analysis is a windsock, not a crystal ball.

Happy Charting!
- Erin


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Erin Swenlin
About the author: helped create and manage the DecisionPoint.com website alongside her father, Carl Swenlin. Together, Erin and Carl launched the DecisionPoint daily blog in 2009. She hosts the MarketWatchers LIVE web show at StockCharts.com, and is also a Member of the CMT Association.
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