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DP Bulletin: NDX Whipsaws Back to PMO BUY Signal

Erin Swenlin

Erin Swenlin

Co-Founder, DecisionPoint.com

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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.


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Price Momentum Oscillator (PMO)

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Technical Analysis is a windsock, not a crystal ball.

Happy Charting!
- Erin


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Erin Swenlin
About the author: is a co-founder of the DecisionPoint.com website along with her father, Carl Swenlin. She launched the DecisionPoint daily blog in 2009 alongside Carl and now serves as a consulting technical analyst and blog contributor at StockCharts.com. Erin is an active Member of the CMT Association. She holds a Master's degree in Information Resource Management from the Air Force Institute of Technology as well as a Bachelor's degree in Mathematics from the University of Southern California. Learn More