The new Long-Term Trend Model (LTTM) BUY signals triggered on the SPX yesterday (3/4) and on the NDX today (3/5). We are probably seeing these just in time for a pullback or correction ahead. The Dow seems to agree, as it generated a new ST PMO SELL signal.
I've highlighted the new signals below. Note that the OEX hasn't triggered the same long-term signal yet, while the Dow is the first to lose its ST PMO BUY signal. Underneath the signal table, I have included charts of all four of the Scoreboard Indexes.
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About the author:Erin Swenlin 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.