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PMO SELL Signal: Market Vectors Gold Miners (GDX)

  • Written by Syndicated Publisher No Comments Comments
    March 8, 2012

    Market Vectors Gold Miners (GDX) generated a PMO (Price Momentum Oscillator) SELL signal because the PMO crossed down through its 10-EMA. This signal was flagged on today’s ETF Tracker Report.

     

    GDX

    Positive:

    PMO SELL signal occurred in recent overbought territory.

    Double-top formation, bearish with price close to reaching the neckline.

    20/50-EMAs have turned down.

    Long-term Trend Model SELL signal (50-EMA crossed below 200-EMA last December).

    Negative:

    PMO only somewhat overbought.

    Technically still on an intermediate-term Trend Model BUY signal (20-EMA is above the 50-EMA).

    Neckline has not been penetrated yet.

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    Some DecisionPoint.com Chart Spotlight articles focus on one security that has generated a Price Momentum Model (PMO) mechanical BUY or SELL signal in one of our Daily Tracker Reports. As a subscriber, you have access to  eleven (11) Tracker reports covering hundreds of securities.

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    INFORMATION CONTAINED HEREIN IS TO ASSIST FURTHER RESEARCH AND IS NEITHER A SOLICITATION NOR RECOMMENDATION TO BUY OR SELL ANY SECURITY. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.

    DECISION POINT OFFICERS AND EMPLOYEES, AND/OR MEMBERS OF THEIR FAMILIES MAY HOLD POSITIONS IN THE SECURITIES MENTIONED AND MAY MAKE PURCHASES AND/OR SALES FOR THEIR OWN ACCOUNT OF THOSE SECURITIES.

    PMO BUY/SELL SIGNALS SHOULD ALWAYS BE CONSIDERED AS “INFORMATION FLAGS” UNTIL YOU HAVE EXAMINED THE CHART AND DETERMINED WHAT ACTION, IF ANY, SHOULD BE TAKEN.

    Erin Heim Erin Swenlin Heim is the daughter of Carl Swenlin, the president and founder of DecisionPoint.com. Erin holds a Bachelor’s degree in Mathematics from the University of Southern California and is a graduate of the Air Force Institute of Technology where she earned a Masters degree in Information Resource Management.  Erin began working in Decision Point around 1997, starting with billing and customer service and expanding into processing daily website updates. She is engaged in a continuing apprenticeship to Carl, who is helping her build a solid foundation in the Decision Point method of technical analysis. Email:  eheim@decisionpoint.com.

     

    Images: Flickr (licence attribution)

    About The Author

    Carl SwenlinCarl Swenlin is a self-taught technical analyst, who has been involved in market analysis since 1981. A pioneer in the creation of online technical resources, he is president and founder of DecisionPoint.com, a premier technical analysis website specializing in stock market indicators, charting, and focused research reports. Mr. Swenlin is a Member of the Market Technicians Association.
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