Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Stocks

Silver Cross BUY Signals on the Dow (DIA) and Russell 2000 (IWM)

by May 9, 2024
May 9, 2024
Silver Cross BUY Signals on the Dow (DIA) and Russell 2000 (IWM)

The Dow Jones Industrial Average ETF (DIA) 20-day EMA crossed up through the 50-day EMA (a Silver Cross), generating an IT Trend Model BUY Signal. The Dow saw a better rally today than the SPY, but under the hood it isn’t quite as strong as the SPY. We do still have participation readings above our bullish 50% threshold with the exception of the Silver Cross Index. It should be able to get above its signal line soon if participation readings hold up. Remember, the Silver Cross Index tells us how many stocks have a “Silver Cross” within the index. Those stocks have a bullish bias in the intermediate term. (To see the “under the hood” chart of the SPY, you can become a member of DecisionPoint.com for access to it and all other major indexes, sectors and select industry groups.)

The weekly PMO is decelerating, but is still holding a Crossover SELL Signal. This looks like a good rally, but expectations should be tempered based on the weekly chart.

The Russell 2000 ETF (IWM) 20-day EMA crossed up through the 50-day EMA (Silver Cross), generating an IT Trend Model BUY Signal. It was not a good Wednesday for small-caps, but given price is above the 20/50-day EMAs, we still got the Silver Cross. The PMO has just reached above the zero line, but we don’t like the weakness we are seeing already in price as it topped.

IWM has been mostly range bound and right now it is at the top of the range, making it vulnerable. The weekly PMO is on a relatively new Crossover SELL Signal. We would be careful with this group.

Learn more about DecisionPoint.com:

Watch the latest episode of the DecisionPointTrading Room on DP’s YouTube channel here!

Try us out for two weeks with a trial subscription!

Use coupon code: DPTRIAL2 at checkout!

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
Biden administration confirms paused shipment of bombs to Israel over opposition to operation in Rafah
next post
What Rising Volatility Means to the Current Market

Related Posts

Growth Stocks Drop Again — and That’s Just...

January 5, 2024

Are Key Commodities Decoupling from Equities?

January 16, 2024

Visualizing the Holdings for a Dual Momentum Rotation...

June 4, 2024

ChartPacks: The Quick and Easy Way to UNLEASH...

September 30, 2023

The Halftime Show: Deciphering the Fed After Jackson...

August 30, 2023

MEM TV: Can the Markets Continue Higher on...

July 15, 2023

Earnings for 2023 Q3 Show Market Still Overvalued

January 5, 2024

GNG TV: Goodbye Growth and Hello Cyclicals

July 28, 2023

Week Ahead: NIFTY Show Evident Signs of Fatigue;...

June 23, 2024

Six Dance Steps to Remember for an Extended...

January 26, 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.

    Latest

    • How I Triple My Returns With 3x Leveraged ETFs!

    • How to Find Compelling Charts in Every Sector

    • EVs Now Emit 73 percent Less Than Gasoline Cars Over Their Lifetime, Says ICCT Study

    • Cygnus Metals Limited: Issue of Performance Rights

    • FPX Nickel Announces Share-Based Compensation Grant

    • Blue Lagoon Resources Officially Opens Dome Mountain Gold Mine in British Columbia

    Categories

    • Business (1,287)
    • Investing (2,662)
    • Politics (3,699)
    • Stocks (1,711)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.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 moneycontrolplace.com | All Rights Reserved