American Daddy Trader
  • Politics
  • Business
  • Stock
  • Editor’s Pick
  • Politics
  • Business
  • Stock
  • Editor’s Pick

American Daddy Trader

Stock

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

by admin 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


previous post
FreedomWorks, once influential conservative group, blames Trump after announcing it’s shutting down: report
next post
CFPB rule to save Americans $10 billion a year in late fees faces possible last-minute freeze

You may also like

XLF’s Record Highs: Buy the Dip or Bail...

February 1, 2025

The Halftime Show: Don’t Box the Invisible Man...

February 22, 2024

Pre-Earnings Moves Are Underway And History Provides Us...

July 7, 2024

Sector Rotation: How to Spot It Early Using...

February 27, 2025

After a 29% Bounce, Can SMCI Reclaim Its...

December 4, 2024

A Few Charts Worth Watching This Week

June 10, 2025

Double Tops on Bitcoin and the Dollar

February 15, 2025

MEM TV: Growth Stocks Fade While These Areas...

March 9, 2024

Thrilling Week for the Stock Market: Dow Jones...

May 18, 2024

Financial Upswing: Understanding the Stock Market Rally and...

November 22, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • FBI raid of John Bolton’s home reportedly linked to classified documents probe

      August 24, 2025
    • GOP senators push for Kamala Harris’ testimony as House Oversight eyes subpoena

      August 24, 2025
    • Israel set to launch Gaza City offensive: High stakes, high costs ahead

      August 24, 2025
    • New RNC chair Joe Gruters vows to ‘ride the president all the way to victory’ in midterms

      August 24, 2025
    • Russia looks to update nuclear program amid ‘colossal threats’ from West

      August 24, 2025

    Archives

    • August 2025
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024

    Categories

    • Business
    • Editor's Pick
    • Politics
    • Stock
    • Uncategorized
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 americandaddytrader.com | All Rights Reserved