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: is a co-founder of the DecisionPoint.com website along with her father, Carl Swenlin. She launched the DecisionPoint daily blog in 2009 alongside Carl and now serves as a consulting technical analyst and blog contributor at StockCharts.com. Erin is an active Member of the CMT Association. She holds a Master's degree in Information Resource Management from the Air Force Institute of Technology as well as a Bachelor's degree in Mathematics from the University of Southern California. Learn More
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