DP Bulletin #1: Dow Bearish with PMO SELL Signal and STTM Neutral Signal

Clearly I spoke too soon about having no DP Scoreboard signal changes this week. Today the Dow triggered both a PMO SELL signal and a Short-Term Trend Model Neutral signal.

I'd prepare for some whipsaw. I've annotated a very small double-top that executed with Tuesday's decline. It also fulfilled the pattern, dropping the height of the pattern. I suspect this support will hold and whipsaw both signals back to "Buys". If I'm wrong, I still believe the 200-EMA will hold.

Technical Analysis is a windsock, not a crystal ball.

Happy Charting!
- Erin

Helpful DecisionPoint Links:

Erin's PMO Scan

DecisionPoint Shared ChartList and DecisionPoint Chart Gallery

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

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