DecisionPoint

Erin's Hits: PMO + CandleGlance = Smart Money

** While Erin is away, we will be posting some of her "greatest hits" educational blogs. Some information may be dated **

The definition of "Smart Money": Money bet or invested by people with expert knowledge. I won't claim expert knowledge, but the pursuit of getting as close to that as possible is what we are doing here on StockCharts.com. In many of my previous DecisionPoint blog entries I've shown you how to use scans, DP Tracker Reports (members only), Price Momentum Oscillator (PMO), among others to help you find opportunities in a smart way. I'm going to tell you how to visually scan for the best prospects, see relative strength and evaluate the charts using only a few clicks. 

Continue reading "Erin's Hits: PMO + CandleGlance = Smart Money" »

DP Alert: New BUY Signal for Crude (USO)

Today a new IT Trend Model (ITTM) BUY signal was generated by U.S. Oil Fund (USO), our surrogate for crude oil, when the 20EMA crossed up through the 50EMA. This looks like a case where the signal is a bit late in arriving due to the severe selling that took place before price finally bottomed -- the EMAs were so far apart to the downside that it took a substantial rally to pull them back together.

Continue reading "DP Alert: New BUY Signal for Crude (USO)" »

Erin's Hits: Creating a Workflow ChartList

** While Erin is away, we will be posting some of her "greatest hits" educational blogs. Some information may be dated **

 

With the release of several DecisionPoint ChartPacks (to learn more about them and how to install them click here), many users have expressed that they are overwhelmed by the quantity of quality indicator charts. This is not news to me, we had the same feedback from new users to the DecisionPoint.com website. The great news is that you can customize what you see on StockCharts.com, whereas on DecisionPoint.com you had to figure out the links and create a workflow from a static menu. You were limited to using browser bookmarks and favorites to save your charts and because of this, there was no 'click through' ability or annotations.

Continue reading "Erin's Hits: Creating a Workflow ChartList" »

DP Alert: Gold Generates New BUY Signal

Gold generated a new IT Trend Model (ITTM) BUY signal as the 20EMA crossed up through the 50EMA. In the last year there have been six ITTM signal changes, and price has been running flat for six months, a configuration that facilitates even more whipsaw. There is, however, more to the picture than is visible on the daily chart.

On Friday I wrote: For several months gold has been in a trading range. Considering that the dollar (UUP above) has been falling during that time, we can conclude that there is an intrinsic weakness in gold that offsets some of the advantage it should gain from a weak dollar. Gold is heading to the top of its current trading range, but there is significant resistance being encountered right now that is not visible on the daily chart. (See the weekly chart below.) It would be most encouraging if price can reach the top of that range. Sentiment is still negative.

Continue reading "DP Alert: Gold Generates New BUY Signal" »

DecisionPoint Weekly/Monthly Wrap -- Possible Top

There is always something for the market to wait for. Last week it was options expiration, and this week it was the Fed meeting. There was nothing new from the Fed, so there were no market hiccups as a result. SPY made new, all-time highs again this week. On Thursday price took a shot at the bottom of the short-term trading range, but it recovered by the end of the day. While the trading range remained intact, Friday's price action hinted at the possibility of a short-term top, as the daily PMO (Price Momentum Oscillator) topped.

Monday will be the last trading day of the month, but I decided to include the Monthly Wrap in this posting, gambling that there will be no significant change to the monthly outlook as a result of Monday's trading.

Continue reading "DecisionPoint Weekly/Monthly Wrap -- Possible Top" »

Erin's Hits: Customizing Gallery View Charts

** While Erin is away, we will be posting some of her "greatest hits" educational blogs. Some information may be dated **

 

One of the features that I used frequently on the DecisionPoint.com website was Gallery View in the ChartTool. I was happy to learn that you can not only use Gallery View on Stockcharts.com to get an in depth view on a stock, ETF, etc., but you can customize it.

Continue reading "Erin's Hits: Customizing Gallery View Charts" »