The DecisionPoint analysis process reviews indicators in three time frames: ultra-short term (typically hours/days), short term (typically days/weeks) and intermediate term (typically weeks). I'll cover short-term indicators today. If you'd like to see where our other indicators stand, you can check out the DP Chart Gallery or for commentary on them you can subscribe to the DecisionPoint Reports blog where we publish the Daily Update and I review them daily.
All three short-term indicators, Short-term Volume Oscillator (STVO), Swenlin Trading Oscillator tracking breadth and volume (STO-B and STO-V) topped below zero today. This is very bearish in the short-term. Looking at the previous time this happened with all three indicators, the market continued its perilous plunge in the short term. On the bright side, it did recuperate shortly thereafter.
Happy Charting!
Erin
