DecisionPoint

DP Bulletin #1: Short-Term PMO BUY Signal Logged on Dow Industrials

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All four Scoreboard indexes have PMO BUY signals as of today. The Dow was the laggard, but between Friday's and today's rallies, momentum has shifted enough to push the PMO over its signal line.



While we do have a PMO BUY signal, I'm not impressed with the daily chart for the Dow. The declining tops trendline was not broken today so the bearish descending triangle remains intact.  


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)

ITBM and ITVM

SCTR Ranking


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Erin Swenlin
About the author: helped create and manage the DecisionPoint.com website alongside her father, Carl Swenlin. Together, Erin and Carl launched the DecisionPoint daily blog in 2009. She hosts the MarketWatchers LIVE web show at StockCharts.com, and is also a Member of the CMT Association. Learn More
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