During today’s market analysis Carl laid out his reasons why we believe we are at a market top. He discusses the current market price action combined with exclusive DecisionPoint indicators to substantiate his position. Don’t miss his analysis.
Carl also goes though the Magnificent Seven by analyzing the daily charts for a near-term perspective and the weekly charts to give us an intermediate-term perspective. Which charts are toppy?
Erin covers Sector Rotation with a special emphasis on the Energy sector which is taking off on the positive Crude Oil trade. Does this rally have more legs? Erin looks at the “under the hood” chart to give you her thoughts. This led into a look at the industry groups within Energy. She likes one group better than the others.
Finally the pair finish up the program with viewer symbol requests which were heavy on the Energy sector and Semiconductors.
01:30 DP Signal Tables
03:37 Market Overview and the Case for a Market Top
11:37 Magnificent Seven
19:02 Discussion of UPS and XLB
26:25 Sector Rotation (More case for market top)
30:37 Energy Discussion and Industry Groups
40:18 Symbol Requests
Try any of our subscriptions for two weeks for free using coupon code: DPTRIAL2
Introducing the new Scan Alert System!
Delivered to your email box at the end of the market day. You’ll get the results of our proprietary scans that Erin uses to pick her “Diamonds in the Rough” for the DecisionPoint Diamonds Report. Get all of the results and see which ones you like best! Only $29/month! Or, use our free trial to try it out for two weeks using coupon code: DPTRIAL2. Click HERE to subscribe NOW!
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 Subscribe HERE!
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:
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.
