DP Bulletin #1: Short-Term PMO BUY Signal Logged on Dow Industrials

All four Scoreboard indexes have PMO BUY signals as of today. The Dow was the laggard, but between Friday's and today's rallies, momentum has shifted enough to push the PMO over its signal line.

While we do have a PMO BUY signal, I'm not impressed with the daily chart for the Dow. The declining tops trendline was not broken today so the bearish descending triangle remains intact.

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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