Clearly I spoke too soon about having no DP Scoreboard signal changes this week. Today the Dow triggered both a PMO SELL signal and a Short-Term Trend Model Neutral signal.
I'd prepare for some whipsaw. I've annotated a very small double-top that executed with Tuesday's decline. It also fulfilled the pattern, dropping the height of the pattern. I suspect this support will hold and whipsaw both signals back to "Buys". If I'm wrong, I still believe the 200-EMA will hold.
Technical Analysis is a windsock, not a crystal ball.
Happy Charting!
- Erin
Helpful DecisionPoint Links:
DecisionPoint Shared ChartList and DecisionPoint Chart Gallery
Price Momentum Oscillator (PMO)
Swenlin Trading Oscillators (STO-B and STO-V)
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