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Wednesday, August 01, 2018 8:21:35 AM
DP Bulletin: NDX Loses Its Short-Lived BUY Signals
By: Erin Swenlin | July 31, 2018
The DecisionPoint Scoreboards were blemished by the loss of the green BUY signals on the NDX. The weekly PMO on the Dow has been holding out for awhile, but it is rising suggesting momentum is still positive in the intermediate term.
Not to be alarmist, but the NDX has reached a support level that it needs to hold. A breakdown would mean a loss of not only that support level, but also the loss of the rising bottoms trendline. The ST Trend Model Neutral signal was triggered when the 5-EMA crossed below the 20-EMA while both were above the 50-EMA. Had they both been below the 50-EMA it would've been a sell signal. The PMO SELL signal arrived yesterday when the PMO sailed below its signal line.
Technical Analysis is a windsock, not a crystal ball.
Happy Charting!
- Erin
https://stockcharts.com/articles/decisionpoint/2018/07/dp-bulletin-ndx-loses-its-short-lived-buy-signals.html
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By: Erin Swenlin | July 31, 2018
The DecisionPoint Scoreboards were blemished by the loss of the green BUY signals on the NDX. The weekly PMO on the Dow has been holding out for awhile, but it is rising suggesting momentum is still positive in the intermediate term.
Not to be alarmist, but the NDX has reached a support level that it needs to hold. A breakdown would mean a loss of not only that support level, but also the loss of the rising bottoms trendline. The ST Trend Model Neutral signal was triggered when the 5-EMA crossed below the 20-EMA while both were above the 50-EMA. Had they both been below the 50-EMA it would've been a sell signal. The PMO SELL signal arrived yesterday when the PMO sailed below its signal line.
Technical Analysis is a windsock, not a crystal ball.
Happy Charting!
- Erin
https://stockcharts.com/articles/decisionpoint/2018/07/dp-bulletin-ndx-loses-its-short-lived-buy-signals.html
• DiscoverGold
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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