On today’s DecisionPoint Trading Room episode Carl and Erin discuss Friday’s “Upside Initiation Climax” and whether it can be trusted. With market follow through tepid, they discuss the implications of this very bullish signal.
Carl reveals his sentiment of the overall market and covers Bitcoin, Gold, Interest Rates, Crude Oil and the Dollar.
As always he gives us his view of the Magnificent Seven stocks and their outlooks. One in particular shows a bearish double top.
Carl also brought a few charts for his “Grab Bag” discussion. He pointed out a nearing IT Trend Model Dark Cross Neutral Signal. He looked at Texas Instruments (TXN), Salesforce (CRM) and Motorola (MSI).
Erin walked us through sector rotation with a discussion of all of the sectors and their Price Momentum Oscillators (PMOs). See where new strength is coming in from…hint: think defensive.
Finally the pair finish the program with a look at viewers symbol requests including views of the weekly charts.
01:40 DecisionPoint Signal Tables
04:49 Market Overview
10:03 Upside Initiation 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 Requests
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Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin
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Helpful DecisionPoint Links:
Price Momentum Oscillator (PMO)
Swenlin Trading Oscillators (STO-B and STO-V)
Erin Swenlin is a co-founder of the DecisionPoint.com website along with her father, Carl Swenlin. She launched the DecisionPoint daily blog in 2009 alongside Carl and now 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 Resource Management from the Air Force Institute of Technology as well as a Bachelor’s degree in Mathematics from the University of Southern California.
