DP Trading Room: Rising Opening Climax (Should We Believe It?) | decision point
today DecisionPoint Trading Room Episode Carl and Erin discuss Friday’s “Upside Initiation Climax” and whether it’s trustworthy. With markets lukewarm, they discuss the implications of the very bullish signals.
Carl gives his thoughts on the overall market and covers Bitcoin, Gold, Interest Rates, Crude Oil and the Dollar.
As always, he gives his opinion on Magnificent Seven stock and its prospects. One in particular shows a bearish double ceiling.
Carl also brought along some charts for the “Grab Bag” discussion. He pointed out that we are getting closer to the IT trend model Dark Cross Neutral Signal. He looked at Texas Instruments (TXN), Salesforce (CRM), and Motorola (MSI).
Erin walked us through the sector rotation with a discussion of every sector and its Price Momentum Oscillator (PMO). See where your new strength comes from…Hint: Think defensively.
Finally, the pair concludes the program by looking at viewer preference requests, including a look at the weekly charts.
01:40 DecisionPoint signal table
04:49 Market Overview
10:03 Rising start climax
12:01 Dollar, Gold, Bitcoin, etc.
16:00 Magnificent Seven
20:00 Carl’s Grab Bag (Energy Sector, Texas Instruments (TXN), Salesforce (CRM), and Motorola (MSI))
30:00 Sector Rotation
36:37 Symbol request
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Technical analysis is a windbreaker, not a crystal ball. –Carl Swenlin
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Useful DecisionPoint links:
trend model
Price Momentum Oscillator (PMO)
balance volume
Swenlin Trading Oscillators (STO-B and STO-V)
ITBM and ITVM
SCTR Ranking
Bear market rules
Erin Swenlin is the co-founder of the DecisionPoint.com website with her father, Carl Swenlin. She started the DecisionPoint daily blog with Carl in 2009 and currently serves as a consulting technical analyst and blog contributor at StockCharts.com. Erin is an active member of the CMT Association. She holds a master’s degree in information resources management from the Air Force Institute of Technology and a bachelor’s degree in mathematics from the University of Southern California. Learn more