DP Bulletin: Three New Short-Term Signals
On Friday the S&P 100 ($OEX) and Nasdaq 100 ($NDX) had Short-Term Trend Model (STTM) signal changes from BUY to NEUTRAL. Today they switched back to BUY. The dreaded whipsaw again. Also, the Dow Jones Industrial Average ($INDU) had a short-term PMO signal change from BUY to SELL.
The two charts below show the whipsaw STTM signal changes for $OEX and $NDX -- the 5EMAs crossed back up through the 20EMAs, generating BUY signals.
The chart of $INDU shows the daily PMO just barely closing below its signal line, generating a PMO SELL signal. If the Dow goes up tomorrow, the signal could change back to BUY.
Happy Charting!
- Carl
Technical Analysis is a windsock, not a crystal ball.
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Price Momentum Oscillator (PMO)
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