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Wednesday, April 19, 2017 10:52:56 AM
• • • Indicators Turn South - UUP New PMO SELL Signal
By Erin Heim | April 18, 2017
A look at the DecisionPoint Scoreboards reminds us that the short term is weak. Don't be fooled by the IT PMO BUY signals on the boards right now, I happen to know we have negative crossovers showing up on the weekly charts for three of these indexes. It's not surprising that our indicators are in line with the current scores.
The purpose of the DecisionPoint Alert Daily Update is to quickly review the day's action, internal condition, and Trend Model status of the broad market (S&P 500), the nine SPDR Sectors, the U.S. Dollar, Gold, Crude Oil, and Bonds. To ensure that using this daily reference will be quick and painless, we are as brief as possible, and sometimes we let a chart speak for itself.
STOCKS: Based upon a 11/15/2016 Intermediate-Term Trend Model BUY signal, our current intermediate-term market posture for the S&P 500 (SPY) is bullish. The Long-Term Trend Model, which informs our long-term outlook, is on a BUY signal as of 4/1/2016 so our long-term posture is bullish.
Rising bottoms support was broken. I don't think this decline is finished based on the negative divergence that is showing on the OBV and price bottoms.
Ultra-Short-Term Indicators: No climactic activity to report today and the VIX is comfortably within the Bollinger Bands for now.
Short-Term Indicators: It had appeared that these indicators had put in a bottom, but with today's weak price movement, they have turned down once again. Note that the recent bottoms are lower than the previous April bottoms. This suggests lower prices, but not likely a correction. These indicators are sitting in oversold territory already.
Intermediate-Term Indicators: These indicators are also bearish in the descent, but they are also somewhat oversold so this decline may be short-lived along with price.
Conclusion: Indicators are bearish and price just closed beneath rising bottoms line support. The negative divergence with the OBV also suggests a decline. With indicators in oversold territory, this decline may not be painful and isn't likely the beginning of a major correction. . .
http://stockcharts.com/articles/decisionpoint/2017/04/dp-alert-indicators-turn-south---uup-new-pmo-sell-signal.html
• DiscoverGold
Click on "In reply to", for Authors past commentaries
By Erin Heim | April 18, 2017
A look at the DecisionPoint Scoreboards reminds us that the short term is weak. Don't be fooled by the IT PMO BUY signals on the boards right now, I happen to know we have negative crossovers showing up on the weekly charts for three of these indexes. It's not surprising that our indicators are in line with the current scores.
The purpose of the DecisionPoint Alert Daily Update is to quickly review the day's action, internal condition, and Trend Model status of the broad market (S&P 500), the nine SPDR Sectors, the U.S. Dollar, Gold, Crude Oil, and Bonds. To ensure that using this daily reference will be quick and painless, we are as brief as possible, and sometimes we let a chart speak for itself.
STOCKS: Based upon a 11/15/2016 Intermediate-Term Trend Model BUY signal, our current intermediate-term market posture for the S&P 500 (SPY) is bullish. The Long-Term Trend Model, which informs our long-term outlook, is on a BUY signal as of 4/1/2016 so our long-term posture is bullish.
Rising bottoms support was broken. I don't think this decline is finished based on the negative divergence that is showing on the OBV and price bottoms.
Ultra-Short-Term Indicators: No climactic activity to report today and the VIX is comfortably within the Bollinger Bands for now.
Short-Term Indicators: It had appeared that these indicators had put in a bottom, but with today's weak price movement, they have turned down once again. Note that the recent bottoms are lower than the previous April bottoms. This suggests lower prices, but not likely a correction. These indicators are sitting in oversold territory already.
Intermediate-Term Indicators: These indicators are also bearish in the descent, but they are also somewhat oversold so this decline may be short-lived along with price.
Conclusion: Indicators are bearish and price just closed beneath rising bottoms line support. The negative divergence with the OBV also suggests a decline. With indicators in oversold territory, this decline may not be painful and isn't likely the beginning of a major correction. . .
http://stockcharts.com/articles/decisionpoint/2017/04/dp-alert-indicators-turn-south---uup-new-pmo-sell-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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