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DP BULLETIN: NDX Generates PMO SELL Signal

Erin Swenlin

Erin Swenlin

Co-Founder, DecisionPoint.com

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As promised to the MarketWatchers LIVE viewers and my DecisionPoint Faithful, I am updating you on the latest DP Scoreboard signal change. The NDX's momentum finally deteriorated enough to generate a PMO SELL Signal.



The other three indexes (SPX, OEX, INDU) triggered PMO SELL signals earlier this month.

I'm noticing a small double-top formation now on the NDX. An execution would require a drop below 6240 and the expected minimum downside target would be close to support at 6100. Seeing small-caps increasing positive momentum, I'm not so sure we'll see a big drop in the NDX. The margin between the PMO and its signal line is minuscule so I could be publishing another bulletin tomorrow.


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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