Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Stocks

Price Momentum Oscillator (PMO) Internals Still a Problem

by admin November 2, 2024
November 2, 2024
Price Momentum Oscillator (PMO) Internals Still a Problem

We noticed on Thursday evening how poor the internals were for the SPY, based on Price Momentum Oscillator (PMO) internals. These internals are the percent of stocks with rising PMOs and the percent of stocks with PMO Crossover BUY Signals. The accompanying short-term Swenlin Trading Oscillators (STOs), along with IT Breadth Momentum (ITBM) and IT Volume Momentum (ITVM), are also in decline.

Currently a mere 18% of stocks hold rising momentum. This is not a good foundation for a rally. At the same time, I know that things get as bad as they are going to get before they start getting as good as they can get. These are oversold readings that could see an upside reversal. For now, they are puny readings. Note also that the STOs turned down in negative territory.

We currently have less than one quarter of stocks with PMO BUY Signals where the PMO is above its signal line. We note that this indicator also saw a top below the signal line, which is also quite bearish. Both the ITBM and ITVM continue to decline out of overbought territory. They still have plenty of real estate to fall further.

Conclusion: While the rally on Friday could change the face of some of these indicators, the PMO indicators won’t likely see a significant upside reversal. Even if they do, they are still likely to be reading below our bullish 50% threshold. Considering how close we are to all-time highs, we should have stronger internals. Beware.

Good Luck & Good Trading,

Erin Swenlin


Introducing the new Scan Alert System!

Delivered to your email box at the end of the market day. You’ll get the results of our proprietary scans that Erin uses to pick her “Diamonds in the Rough” for the DecisionPoint Diamonds Report. Get all of the results and see which ones you like best! Only $29/month! Or, use our free trial to try it out for two weeks using coupon code: DPTRIAL2. Click HERE to subscribe NOW!


Learn more about DecisionPoint.com:


Watch the latest episode of the DecisionPointTrading Room on DP’s YouTube channel here! Or join us live at 9am PT every Monday by registering HERE.


Try us out for two weeks with a trial subscription!

Use coupon code: DPTRIAL2 Subscribe HERE!


Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin


(c) Copyright 2024 DecisionPoint.com


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.


Helpful DecisionPoint Links:

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

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

ITBM and ITVM

SCTR Ranking

Bear Market Rules


0
FacebookTwitterGoogle +Pinterest
previous post
S&P 500 Under Pressure, Can Strong Seasonality Save It?
next post
Market Rotation Fueled by Large-Cap Growth (Again)

Related Posts

Large-Cap Growth Threatens the S&P Rally

June 27, 2024

Sentiment Signals Suggest Skepticism

April 28, 2025

DP Trading Room: Does This Rally Have Legs?

January 7, 2025

S&P 500 Under Pressure, Can Strong Seasonality Save...

November 3, 2024

DexCom Stock Rises From the Ashes: A Breakout...

January 18, 2025

Gold Prices: De-Dollarization, Inflation, and $3,000 Gold—What You...

January 15, 2025

$4,000 Gold? Analysts Eye New Highs on Inflation...

April 23, 2025

S&P 500 Selloff: Bearish Rotation & Key Downside...

March 5, 2025

S&P 500 Teetering On 100-Day Moving Average Support

August 11, 2024

Sector Rotation & Seasonality: What’s Driving the Market...

March 1, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Memorial service for assassinated Turning Point USA founder Charlie Kirk draws Trump, major GOP figures

      September 22, 2025
    • Russia shifts from talk to action, targeting NATO homeland amid fears of global war

      September 22, 2025
    • German officials condemn store owner who declared Jews banned from entry to protest Israel

      September 22, 2025
    • Trump honors Charlie Kirk’s legacy and describes him as a ‘martyr for American freedom’

      September 22, 2025
    • Charlie Kirk honored by 90K in one of the largest memorials for a private citizen

      September 22, 2025

    Categories

    • Business (1,107)
    • Investing (3,087)
    • Politics (3,773)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved