The OEX hopped on board the SELL signal train as its Price Momentum Oscillator (PMO) crossed below its signal line, which triggered its own Short-Term PMO SELL Signal.
A rising wedge was nearly executed today to the downside. The PMO was yanked below its signal line, which generated the SELL signal. Price closed above the rising bottoms trend line, but I would look for the wedge to proceed as expected... to the downside.
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Technical Analysis is a windsock, not a crystal ball.
Happy Charting!
- Erin
erinh@stockcharts.com
Helpful DecisionPoint Links:
DecisionPoint Shared ChartList and DecisionPoint Chart Gallery
Price Momentum Oscillator (PMO)
Swenlin Trading Oscillators (STO-B and STO-V)
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