(Beneath is an excerpt from the subscriber-only DecisionPoint Alert on DecisionPoint.com for Thursday, 1/4):
Most are aware of what a “golden cross” is, a 50-day MA shifting above the 200-day MA. At the moment we’ll discuss a “silver cross”. A “silver cross” is when the 20-day MA crosses above the 50-day MA. Shares with a 20-day MA above the 50-day MA have bullish biases within the intermediate time period.
We got here up with the Silver Cross Index which measures what number of shares have a silver cross or a bullish IT bias. When the Silver Cross Index is above its sign line, we have now a bullish IT bias.
Thursday the Silver Cross Index for the S&P500 topped and we observed it wasn’t the one one. Within the chart beneath you’ll be able to see that the Nasdaq and NYSE Silver Cross Indexes additionally topped.
Here’s a chart of all the market indexes we cowl. You possibly can see that every one however the Dow Industrials and OEX have topped. The Dow and NDX held the identical readings, however each look toppy.
Conclusion: Whereas the intermediate-term biases stay bullish given the Silver Cross Indexes are above their sign traces, deterioration is being detected and may hold us alert to broader weak point inside the market.
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Useful DecisionPoint Hyperlinks:
DecisionPoint Alert Chart Checklist
DecisionPoint Golden Cross/Silver Cross Index Chart Checklist
DecisionPoint Sector Chart Checklist
Value Momentum Oscillator (PMO)
Swenlin Buying and selling Oscillators (STO-B and STO-V)
Erin Swenlin is a co-founder of the DecisionPoint.com web site alongside along with her father, Carl Swenlin. She launched the DecisionPoint every day weblog in 2009 alongside Carl and now serves as a consulting technical analyst and weblog contributor at StockCharts.com. Erin is an energetic Member of the CMT Affiliation. She holds a Grasp’s diploma in Info Useful resource Administration from the Air Power Institute of Expertise in addition to a Bachelor’s diploma in Arithmetic from the College of Southern California.
