Today, the Dow finally logged its Long-Term Trend Model SELL signal. This signal was triggered when the 50-EMA crossed below the 200-EMA. The Scoreboards below are ugly. The remaining BUY signal will be gone on the final trading day of the month - I highly doubt the PMO will be able to find its way back above the signal in time to prevent it. Below are the new Scoreboards, along with the daily and weekly charts of $INDU. It's highly doubtful that Santa will get here in time Christmas.
Technical Analysis is a windsock, not a crystal ball.
**Don't miss DecisionPoint Commentary! Add your email below to be notified of new updates"**
About the author:Erin Swenlin 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.