Today the Dow Industrials ($INDU) PMO signal changed from a SELL to a BUY.
The just retired SELL signal was only three days old because the daily PMO is currently very flat and close to its signal line. In this configuration the PMO is subject to frequent whipsaw signal changes. As I have frequently said, signal changes are information flags, not action commands. Looking at this chart we can see that price is above all four EMAs, and the PMO is well into positive territory. Could hardly be more bullish.
Helpful DecisionPoint Links:
DecisionPoint Shared ChartList and DecisionPoint Chart Gallery
Price Momentum Oscillator (PMO)
Swenlin Trading Oscillators (STO-B and STO-V)
Technical Analysis is a windsock, not a crystal ball.
Happy Charting!
- Carl
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