Yes, the PPO will give the first signs of a possible trend change, however additional confirmation is needed. That's why I have the other 4 indicators. Right now all I am seeing is a ST pullback and possibly a new daily cycle starting.
On the SPX weekly chart if you look at the MACD (12,26,9) it has been bearish for quit awhile. The last time it was in it's current position, a LT Bull Rally followed.
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