DecisionPoint

DP Bulletin: Scoreboards Lose BUY Signals

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After deep declines today, the DP Scoreboards lost most of their short-term BUY signals. Rising wedges had appeared on the daily charts and today's decline confirmed it. The expectation is a breakdown from the wedge. The NDX is showing the most relative strength as it continues to cling to its short-term BUY signals. It's beginning to look like we will see a double-bottom rather than a "V" bottom. Be sure to read tomorrow's Weekly Wrap by Carl Swenlin, he'll go more in depth on the short- to intermediate-term market conditions.



The strongest support levels on these indexes are the lows set on the February correction.


Helpful DecisionPoint Links:

Erin's PMO Scan

DecisionPoint Shared ChartList and DecisionPoint Chart Gallery

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

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

ITBM and ITVM

SCTR Ranking


 

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. Learn More
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