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SP600 (IJR) Silver Cross BUY Signal May Arrive Too Late

by admin February 1, 2025
February 1, 2025
SP600 (IJR) Silver Cross BUY Signal May Arrive Too Late

Today on the S&P 600 (IJR), the 20-day EMA nearly crossed above the 50-day EMA for a “Silver Cross” IT Trend Model BUY Signal. Price is really going nowhere. Bulls might look at it as a bull flag, but the ‘flag’ is horizontal, not trending lower. That setup doesn’t usually execute as you’d expect, with a breakout move that flag formations call for. The announcement of tariffs on Friday did set the market up for a strong downside reversal, and IJR was hit fairly hard.

This signal will definitely be late to the party should it trigger as we had expected it to today. The signal may not occur, as a drop beneath the 50-day EMA would likely negate a Silver Cross. The PMO is still rising and is above the zero line now, but price just doesn’t look healthy. Participation of stocks above their key moving averages is trending somewhat lower. They do read above our bullish 50% threshold, but not by much. This looks like an index that is weakening, not strengthening on a BUY Signal.

Conclusion: The index opened higher, but IJR struggled after the tariff announcement, more so than the SPY. It may be close to a Silver Cross BUY Signal, but it doesn’t look ready to breakout. Participation is slowly thinning. We would be careful with the market as a whole right now, but IJR looks especially weak.


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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


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