DP Bulletin: NDX Triggers IT PMO BUY Signal - Equal-Weight Consumer Discretionary (RCD) IT Trend Model BUY Signal
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.
Helpful DecisionPoint Links:
DecisionPoint Shared ChartList and DecisionPoint Chart Gallery
Price Momentum Oscillator (PMO)
Swenlin Trading Oscillators (STO-B and STO-V)
*** Erin will be celebrating her marriage and honeymoon 7/25 - 8/21. She'll return as "Erin Wood". Congratulations, Erin!
Technical Analysis is a windsock, not a crystal ball.
Happy Charting!
- Erin
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