DecisionPoint

Erin's Hits: Creating a Workflow ChartList

** While Erin is away, we will be posting some of her "greatest hits" educational blogs. Some information may be dated **

 

With the release of several DecisionPoint ChartPacks (to learn more about them and how to install them click here), many users have expressed that they are overwhelmed by the quantity of quality indicator charts. This is not news to me, we had the same feedback from new users to the DecisionPoint.com website. The great news is that you can customize what you see on StockCharts.com, whereas on DecisionPoint.com you had to figure out the links and create a workflow from a static menu. You were limited to using browser bookmarks and favorites to save your charts and because of this, there was no 'click through' ability or annotations.

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DP Alert: Gold Generates New BUY Signal

Gold generated a new IT Trend Model (ITTM) BUY signal as the 20EMA crossed up through the 50EMA. In the last year there have been six ITTM signal changes, and price has been running flat for six months, a configuration that facilitates even more whipsaw. There is, however, more to the picture than is visible on the daily chart.

On Friday I wrote: For several months gold has been in a trading range. Considering that the dollar (UUP above) has been falling during that time, we can conclude that there is an intrinsic weakness in gold that offsets some of the advantage it should gain from a weak dollar. Gold is heading to the top of its current trading range, but there is significant resistance being encountered right now that is not visible on the daily chart. (See the weekly chart below.) It would be most encouraging if price can reach the top of that range. Sentiment is still negative.

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DecisionPoint Weekly/Monthly Wrap -- Possible Top

There is always something for the market to wait for. Last week it was options expiration, and this week it was the Fed meeting. There was nothing new from the Fed, so there were no market hiccups as a result. SPY made new, all-time highs again this week. On Thursday price took a shot at the bottom of the short-term trading range, but it recovered by the end of the day. While the trading range remained intact, Friday's price action hinted at the possibility of a short-term top, as the daily PMO (Price Momentum Oscillator) topped.

Monday will be the last trading day of the month, but I decided to include the Monthly Wrap in this posting, gambling that there will be no significant change to the monthly outlook as a result of Monday's trading.

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Erin's Hits: Customizing Gallery View Charts

** While Erin is away, we will be posting some of her "greatest hits" educational blogs. Some information may be dated **

 

One of the features that I used frequently on the DecisionPoint.com website was Gallery View in the ChartTool. I was happy to learn that you can not only use Gallery View on Stockcharts.com to get an in depth view on a stock, ETF, etc., but you can customize it.

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DP Bulletin: NDX Triggers IT PMO BUY Signal - Equal-Weight Consumer Discretionary (RCD) IT Trend Model BUY Signal

Today the Nasdaq 100 Scoreboard turned completely green. Well, it lost the only red arrow it was clinging to on the intermediation-term Price Momentum Oscillator (PMO). The equal-weight Consumer Discretionary ETF (RCD) also triggered a new Intermediate-Term Trend Model (ITTM) BUY signal. The charts are below for your review.

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DecisionPoint Weekly Wrap -- Another Breakout to New, All-Time Highs

Last week the market broke out of a month-long rounded top to new, all-time highs. This week there was a short snapback to the point of breakout, then on Wednesday it once again broke to new, all-time highs. Thursday and Friday it again pulled back to the point of breakout. Friday was options expiration day, so there is no sinister message to be found in the high volume on SPY.

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DP Alert: SPY Closes on All-Time High - Utilities ETFs ITTM BUY Signals - PMO BUY Signal on Gold

No new changes on the DecisionPoint Scoreboards although I happen to know there is an intermediate-term PMO BUY signal waiting in the wings on the NDX. That signal will not go final until after Friday's trading. Utilities SPDR (XLU) and the equal-weight Utilities ETF (RYU) both garnered IT Trend Model BUY signals. Gold turned in a PMO BUY signal on the daily chart and TLT managed a new ST Trend Model BUY signal. Where's the bear?

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DP Alert: All-Time Highs Create New Support Level for SPY

No new changes to report on the DecisionPoint Scoreboards, although if you didn't read about it last Friday, we did see FOUR new PMO BUY signals on all four indexes. The only "red" on the Scoreboards are on the IT PMO signals which are found on the weekly charts. You can take a look at all of the Scoreboard weekly charts annotated in the DecisionPoint ChartList.

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