Bearish Signals Continue to Mount

It was a rough finish to the week and it has shaken up the DecisionPoint Scoreboards. Additionally, the Intermediate-Term Trend Model (ITTM) generated a Neutral signal on the equal-weight Financials ETF (RYF) and a weekly Price Momentum Oscillator (PMO) SELL signal popped on the equal-weight Consumer Discretionary ETF (RCD). Believe it or not, these Scoreboards were completely green on May 11th (except the Dow IT PMO SELL). We began seeing signs of deterioration even before this week's short-term correction when the IT PMO signals on the SPX and OEX triggered a SELL signal on 5/12. 

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