We've been waiting and watching for a PMO crossover BUY signal on the SPY. Today it reluctantly agreed to cross above its signal line. This isn't much of a buy signal given the PMO barely drifted above it. However, it does give us a more bullish bias in the shorter term...
The chat was lively in the Diamond Mine this morning with plenty of interesting symbol requests. The recording is below...
Bonds (TLT) had a "silver cross" of the 20/50-EMAs. This is an IT Trend Model BUY signal. With yields breaking down, we should see more rally out of TLT as well as other Bond ETFs. Additionally, today we have a very bullish engulfing candlestick on the daily chart...
Today I've selected three Reader Requests, as well as a stock that has been in my scan results for three days now (I believe the chart is finally ripe), and a Biotech I like right now...
We have been keeping a close eye on treasury yields as they have been sliding lower. Today both the 10-year and 30-year yields closed below support. Technically, using intraday readings, yields are just barely hanging onto support at intraday lows...
Most of my scans are producing fewer and fewer results. I find when this happens the market is internally weak. It also means we should be more selective on where and what we trade. Two of today's three selections have improving weekly charts...
DecisionPoint uses the iShares S&P Commodity-Indexed Trust (GSG) to follow Commodities. GSG uses index futures contracts to gain exposure to a production-weighted index of front-month commodities futures contracts...
Every now and then as I sift through my scan results, I come across a chart that MUST be presented. I found today's in a rather generalized scan that I call "Bullish EMAs - MidRange SCTR"...
In this episode of DecisionPoint, Carl gives us the market review and points out numerous negative divergences that are finding their way back onto the indicator charts...
DecisionPoint has a ChartList called the "ETF Tracker" available on StockCharts.com. It tracks 82 ETFs that cover the major industry groups. I'll discuss how to download the "ETF Tracker" on StockCharts.com in a moment...
This is a copy of the "subscriber-only" DecisionPoint Weekly Wrap. It is posted each Friday for our subscribers and wraps up the week by analyzing daily and weekly charts. For more information on subscribing, click here...
Before I begin, I do want to thank the live viewers who patiently waited for today's Diamond Mine to open as I was running late. The webinar went very long today. The recording is under the "Diamond Mine Information" below...
The Price Momentum Oscillator (PMO) BUY signals keep coming in. This week we saw Crude Oil (USO), Energy (XLE) and Real Estate (XLRE) all post new PMO BUY signals. The Dollar had hit very important support in May but had been unable to turn up in a significant way...
Reader Request Day brought some very interesting stocks to the table. We have a steel company that is continuing to outperform and two stocks from the Exploration & Production industry group. With my scans I found a Trucking stock that has a beautiful set-up...
In this week's edition of Chartwise Women, Erin and Mary Ellen discuss the concept of "high-yield" stocks/ETFs. With inflation fears edging in, high-yield stocks are in favor...
Yesterday I wrote about the bullish breakout out on Crude Oil (USO) from a bearish rising wedge. As noted yesterday, we find that bullish resolutions to bearish patterns are particularly bullish. Yesterday the Real Estate sector (XLRE) broke out of a bearish rising wedge as well...
With the Energy, Financial and Real Estate sectors outperforming, I decided to tweak one of my scans to also search for stocks with yields greater than 2%. I found some very interesting choices with yields of 3% or more...
USO broke out of a bearish falling wedge today. When we see a bullish breakout from a bearish pattern we consider it especially bullish. We had already seen a PMO crossover BUY signal so we did get an early message that Crude Oil was nearing a breakout...
Today's "Diamonds in the Rough" come from my "Momentum Sleepers" scan. In this scan I speed up the Price Momentum Oscillator (PMO) in comparison to my other scans...
Today, $WTIC generated a Price Momentum Oscillator (PMO) Crossover BUY signal. We use USO for our signals on Crude Oil, but it hasn't triggered a PMO BUY signal yet. USO was the big winner this week, up 3.94% this week. $WTIC was up 4.31% on the week...