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Saturday, July 22, 2017 12:08:21 PM
:) DP Bulletin: NDX Triggers IT PMO BUY Signal - Equal-Weight Consumer Discretionary (RCD) IT Trend Model BUY Signal
By Erin Heim | July 22, 2017
Today the Nasdaq 100 Scoreboard turned completely green. Well, it lost the only red arrow it was clinging to on the intermediation-term Price Momentum Oscillator (PMO). The equal-weight Consumer Discretionary ETF (RCD) also triggered a new Intermediate-Term Trend Model (ITTM) BUY signal. The charts are below for your review.
With a fresh all-time high logged and a breakout above previous short-term resistance, I suspect this signal will hold this time barring a serious pullback or correction.
I think my only caution on this ITTM BUY signal is that overhead resistance that has held since it was set back in December 2016.
Technical Analysis is a windsock, not a crystal ball.
Happy Charting!
- Erin
http://stockcharts.com/articles/decisionpoint/2017/07/dp-bulletin-ndx-triggers-it-pmo-buy-signal---equal-weight-consumer-discretionary-rcd-it-trend-model-buy-signal.html
• DiscoverGold
Click on "In reply to", for Authors past commentaries
By Erin Heim | July 22, 2017
Today the Nasdaq 100 Scoreboard turned completely green. Well, it lost the only red arrow it was clinging to on the intermediation-term Price Momentum Oscillator (PMO). The equal-weight Consumer Discretionary ETF (RCD) also triggered a new Intermediate-Term Trend Model (ITTM) BUY signal. The charts are below for your review.
With a fresh all-time high logged and a breakout above previous short-term resistance, I suspect this signal will hold this time barring a serious pullback or correction.
I think my only caution on this ITTM BUY signal is that overhead resistance that has held since it was set back in December 2016.
Technical Analysis is a windsock, not a crystal ball.
Happy Charting!
- Erin
http://stockcharts.com/articles/decisionpoint/2017/07/dp-bulletin-ndx-triggers-it-pmo-buy-signal---equal-weight-consumer-discretionary-rcd-it-trend-model-buy-signal.html
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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