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Monday, October 01, 2018 11:32:14 AM
DP Bulletin: NDX Adds Short-Term PMO BUY Signal
By: Erin Swenlin | October 1, 2018
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
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• DiscoverGold
By: Erin Swenlin | October 1, 2018
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
Read More »»»
• 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!
• DiscoverGold
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