DP Bulletin: NDX Loses Its Short-Lived BUY Signals


The DecisionPoint Scoreboards were blemished by the loss of the green BUY signals on the NDX. The weekly PMO on the Dow has been holding out for awhile, but it is rising suggesting momentum is still positive in the intermediate term.

Not to be alarmist, but the NDX has reached a support level that it needs to hold. A breakdown would mean a loss of not only that support level, but also the loss of the rising bottoms trendline. The ST Trend Model Neutral signal was triggered when the 5-EMA crossed below the 20-EMA while both were above the 50-EMA. Had they both been below the 50-EMA it would've been a sell signal. The PMO SELL signal arrived yesterday when the PMO sailed below its signal line.

Technical Analysis is a windsock, not a crystal ball.

Happy Charting!
- Erin

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)


SCTR Ranking

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Erin Swenlin
About the author: is a co-founder of the 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 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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