DecisionPoint

DP Bulletin: NDX Adds Short-Term PMO BUY Signal

Erin Swenlin

Erin Swenlin

Co-Founder, DecisionPoint.com

DecisionPoint Alert Logo

On Friday, the Nasdaq 100 (NDX) switched to a Short-Term Price Momentum Oscillator (PMO) BUY signal. It joins the Dow which already had a PMO BUY signal that was logged on 9/19/18. The SPX and OEX are the laggards right now.



I've annotated the PMO BUY signal. The prominent features of this price chart are the rising bottoms trendline as well as the tiny breakout intraday. Likely helped by the new NAFTA announcement, markets are rising higher.

The OEX could finish the day with a new PMO BUY signal. The dominant feature on this chart would be the bearish rising wedge.

The SPX hasn't yet challenged its recent all-time high as of publishing, but I don't think today's rally will be enough to get that PMO BUY signal triggered.


Technical Analysis is a windsock, not a crystal ball.

Happy Charting!
- Erin


Helpful DecisionPoint Links:

Erin's PMO Scan

DecisionPoint Shared ChartList and DecisionPoint Chart Gallery

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking


**Don't miss DecisionPoint Commentary! Add your email below to be notified of new updates"**


 

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