All Market PMo, I have been watching the PMOs of the sub
indexes. The small caps, mid caps, transports etc have given
PMO sell signals. $NDX is close to a sell. Hence this
indicator can give an early warning of a roll over in the SPX large
caps as small caps roll over first. The PMO is slower than the MAD
hence why it can be too late to give buy signals. SPX PMO
Below:
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All Market PMo, I have
Posted by elliotw on 21st of Nov 2019 at 06:11 pm
All Market PMo, I have been watching the PMOs of the sub indexes. The small caps, mid caps, transports etc have given PMO sell signals. $NDX is close to a sell. Hence this indicator can give an early warning of a roll over in the SPX large caps as small caps roll over first. The PMO is slower than the MAD hence why it can be too late to give buy signals. SPX PMO Below: