DecisionPoint

DP Bulletin: NDX Whipsaws Back to PMO BUY Signal

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Just a quick headline! NDX whipsawed back into a PMO BUY signal after two days on a SELL. After today's brilliant move by the technology sector, the PMO was yanked back up above its signal line.



This was a beautiful breakout today with a gap up to form new support at prior resistance. Hard to argue with what looks like an initiation impulse such as this on price. This doesn't look like a fake out rally, but I would expect to see it pause or pullback slightly.


Helpful DecisionPoint Links:

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


 

Technical Analysis is a windsock, not a crystal ball.

Happy Charting!
- Erin


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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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