The DecisionPoint Scoreboards have been flipping out! I mean the signals are flipping quickly on all of the Boards! I wrote about the five signal changes we got yesterday in the DP Alert article here. The short term picture is very bullish with all four major indexes showing "green". The long-term picture is also very favorable. Momentum in the intermediate term is still declining (you can view the IT PMO on the weekly charts in the DP LIVE shared ChartList here).
The original breakaway gap on Monday was impressive. I think the follow-through gap up was even more impressive. This new PMO BUY signal arrives on the coattails of a Short-Term Trend Model (STTM) BUY signal that was triggered when the 5-EMA crossed above the 20-EMA. The breakout from a bearish pattern I find especially bullish. I suspect all-time highs will be made, but a test of the declining tops trendline may be necessary first.
The DecisionPoint LIVE Shared ChartList is available now! Click on the link and you'll find all your favorite DP charts all annotated! Be sure and bookmark it!
Technical Analysis is a windsock, not a crystal ball.
Happy Charting!
- Erin
