DP Trading Room: Why PMO is Better than MACD! | decision point

Today Carl explains the benefits of using price momentum oscillators and MACD. They are not the same!

Carl then provides insight into Bitcoin news, an overview of the Magnificent 7, crude oil and interest rates, as well as the market overall.

Erin takes a deep dive into where S&P sectors are strong. Sectors based on PMO should be avoided.

Some highlights:

– PMO is a better momentum indicator than MACD because it normalizes the readings to allow for better comparisons over time.

– Many of the ‘Magnificent Seven’ technology stocks, including Apple, Google, and Microsoft, are showing signs of breaking through high points based on technical indicators.

– Consumer staples and real estate sectors are expected to remain strong and could benefit from a market correction.

– The telecommunication services sector is showing weakness due to the decline in PMO figures.

– Home Depot still appears technically sound despite a weak momentum divergence.

– The IGV Technology ETF looks interesting, but technical weaknesses could pose risks.

– ARM Holdings has more upside, but its parabolic rise requires tight stops.

– Gold miners like MTA still face downside risks due to weakness in gold prices and technical indicators.

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Technical analysis is a windbreaker, not a crystal ball. –Carl Swenlin

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