A quick bulletin to let you all know that we got a new PMO BUY signal on the Dow. I've been writing about this the past few days so no one should be surprised. At this point my concern again is for more whipsaw if the market takes a breath or pulls back in a holiday hangover.
Despite a bearish pattern, bullish confirmations and PMO BUY signal will likely override the pattern's call for a corrective move. Look for sideways consolidation or a pullback to the rising bottoms trend line.
Helpful DecisionPoint Links:
DecisionPoint Shared ChartList and DecisionPoint Chart Gallery
Price Momentum Oscillator (PMO)
Swenlin Trading Oscillators (STO-B and STO-V)
Technical Analysis is a windsock, not a crystal ball.
Happy Charting!
- Erin
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