If you haven't reviewed the DecisionPoint Chart Gallery Scoreboards, you may want to. Yesterday, the short-term Price Momentum Oscillator (PMO) signals on all four Scoreboards for OEX, SPX, INDU and NDX switched to BUY signals.
These signals trigger on the daily chart when the PMO crosses above its signal line. You'll note in the charts below that the PMO on all of these indexes had been rising awhile before the crossovers.
They may have arrived late to the bear market rally party given that the market fell today. However, the rally isn't dead yet. Price has not yet dropped below the current rising bottoms trendline. Short-Term Trend Model BUY signals will not appear until the 5-EMAs cross above the 20-EMAs. That will be difficult to accomplish given all four 5-EMAs have topped below the 20-EMA.
Conclusion: Momentum did switch positive in about the third week of January. It has taken the PMOs some time to climb above signal lines and that means these signals are probably coming in too late. However, the rising trend is intact for now. It's now or never for bulls to keep this rally cooking.
![DecisionPoint Chart Gallery Scoreboards](http://<p>If you haven't reviewed the DecisionPoint Chart Gallery Scoreboards, you may want to. Yesterday, the short-term PMO signals on all four Scoreboards for OEX, SPX, INDU and NDX switched to BUY signals. </p> <p><img src="https://d.stockcharts.com/img/articles/2016/02/14544609527271968025446.png" /></p> <hr id="article-preview-break" style="border:2px dotted #090;" title="Preview break" /> <p>These signals trigger on the daily chart when the PMO crosses above its signal line. You'll note in the charts below that the PMO on all of these indexes had been rising awhile before the crossovers. </p> <p>They may have arrived late to the bear market rally party given that the market fell today. However, the rally isn't dead yet. Price has not yet dropped below the current rising bottoms trendline. Short-Term Trend Model BUY signals will not appear until the 5-EMAs cross above the 20-EMAs. That will be difficult to accomplish given all four 5-EMAs have topped below the 20-EMA.</p> <p><a href="/h-sc/ui?s=%24INDU&p=D&yr=1&mn=4&dy=0&i=p00545619414&a=414019004&r=1454461834390"><img src="https://d.stockcharts.com/img/articles/2016/02/14544618382172877363.png" /></a><a href="/h-sc/ui?s=%24NDX&p=D&yr=1&mn=4&dy=0&i=p15236944907&a=413032861&r=1454461824314"><img src="https://d.stockcharts.com/img/articles/2016/02/1454461857093347860729.png" /></a><a href="/h-sc/ui?s=%24OEX&p=D&yr=1&mn=4&dy=0&i=p03417890917&a=413032862&r=1454461878410"><img src="https://d.stockcharts.com/img/articles/2016/02/14544618811701247850569.png" /></a><a href="/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&i=p69008058469&a=413032860&r=1454461897175"><img src="https://d.stockcharts.com/img/articles/2016/02/14544618998631907033930.png" /></a><strong>Conclusion:</strong> Momentum did switch positive in about the third week of January. It has taken the PMO some time to climb above signal lines and that means these signals are probably coming in too late. However, the rising trend is intact for now. It's now or never for bulls to keep this rally cooking.</p> <p> </p>){kind=link}