Good morning and welcome to this week’s Flight Path. “Go” bars have been the order of the week once more for U.S. equities and the top of the week noticed a return to sturdy blue bars. Treasury bond costs additionally have been in a position to keep “Go” bars however ended the week exhibiting weak point. U.S. commodity index painted a full week of weaker aqua “Go” bars whereas the greenback continued to point out power with sturdy blue bars.
$SPY Stays in “Go” Development however Struggles with New Highs
Worth hit an intra week excessive once more this week however we noticed Friday shut decrease. GoNoGo Development painted sturdy blue bars on the finish of the week and so we all know the development stays sturdy. GoNoGo Oscillator has fallen from overbought territory and quantity is mild because it crashes towards the zero line. So, we now have momentum waning however value holding on to development. We’ll watch to see what occurs because the oscillator will get to zero and we are going to search for it to seek out assist if the development is to stay wholesome.
Worth crept increased this week and we noticed one other sturdy blue “Go” bar which makes it 8 in a row. GoNoGo Oscillator has peaked however remains to be overbought at a worth of 5. We’ll look to see if momentum continues to wane and if that’s the case we’ll see a Go Countertrend Correction Icon (crimson arrow) that may point out a probable pause and a wrestle for costs to go increased within the quick time period.
Treasury Charges Nonetheless in “NoGo” Development however Paints Weaker Pink Bars
Treasury charges climbed this week after final week’s low and we see that GoNoGo Development paints just a few weaker pink bars. The load of the proof nonetheless factors to a “NoGo” development however we are going to watch to see if it holds this week. GoNoGo Oscillator has rallied and is testing the zero stage from under. Whether it is rejected right here, we are going to possible see a brand new leg down in value.
Greenback Sees Continued Energy as Worth Makes New Highs
Worth hit new highs this week and GoNoGo Development painted per week of uninterrupted sturdy blue “Go” bars. We’ll search for value to consolidate at these ranges utilizing assist from prior highs in Could. GoNoGo Oscillator has flatlined at a worth of three and so is in constructive territory however not but overbought. Quantity is heavy.
Tyler Wooden, CMT, co-founder of GoNoGo Charts, is dedicated to increasing the usage of knowledge visualization instruments that simplify market evaluation to take away emotional bias from funding choices.
Tyler has served as Managing Director of the CMT Affiliation for greater than a decade to raise buyers’ mastery and talent in mitigating market danger and maximizing return in capital markets. He’s a seasoned enterprise government targeted on academic know-how for the monetary providers business. Since 2011, Tyler has offered the instruments of technical evaluation world wide to funding corporations, regulators, exchanges, and broker-dealers.
Alex Cole, CEO and Chief Market Strategist at GoNoGo Charts, is a market analyst and software program developer. Over the previous 15 years, Alex has led technical evaluation and knowledge visualization groups, directing each enterprise technique and product improvement of analytics instruments for funding professionals.
Alex has created and carried out coaching packages for big firms and personal purchasers. His instructing covers a large breadth of Technical Evaluation topics, from introductory to superior buying and selling methods.
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