TylerWood2020

TylerWood2020

Zooming out to this Monthly GoNoGo Chart® of the US Dollar Index $DXY provides an important intermarket relationship causing headwinds for equities. Dollar strength continues the "Go" trend conditions in July on strong blue bars. GoNoGo Oscillator® is sustaining overbought conditions as momentum rallied through 2022. Strength in the US Dollar is unquestionable....

TylerWood2020

The metals and mining industry is performing solidly on both an absolute and relative basis. This chart depicts the trend in relative strength of the S&P Metals & Mining ETF against the S&P 500 benchmark index. $XME/SPY - the relative ratio chart is showing five strong weeks of relative gains. Interestingly, the ratio is above prior resistance on strong blue...

TylerWood2020

Sociedad Química y Minera de Chile - $SQM - is a Chilean chemical company and a supplier of plant nutrients, iodine, lithium, and industrial chemicals. It is the world’s biggest lithium producer. SQM's natural resources and its main production facilities are located in the Atacama Desert in the Tarapacá region. Check out this monthly GoNoGo Trend chart of $SQM...

TylerWood2020

It's only Wednesday, but the weekly perspective on this ratio of high yield "junk" bonds to government treasuries is currently painting "Go" conditions. Often used as a proxy for overall market risk, the ratio trends higher when investor demand for high yield bonds is greater than their demand for government treasuries. The concept then is a rising ratio shows...

TylerWood2020

From the weekly perspective, the S&P 500's rally this week was not lost in the late Friday afternoon selloff. GoNoGo Trend shifted into the stronger "Go" trend conditions - shown in the final blue bar representing this week's trading session ending 2/11/2022. And yet, the weight of the evidence shows several key threats: 1. BEARISH DIVERGENCE between Price and...

TylerWood2020

Volatile market swings continued last week. The midweek rally in $SPY was bookended by selling pressure as GoNoGo Trend conditions (daily data) for major US Equity indices flirted with neutral amber “GoFish” bars. GoNoGo Oscillator (lower panel) is riding the zero line on heavy volume - this objective level of neutrality should provide support in a healthy...

TylerWood2020

One chart illustrates the paradigm shift in risk assessment since the start of November. See the weekly GoNoGo Trend chart of option-adjusted corporate bond credit spreads which have now completely reversed trend conditions since Nov 1st, 2021 – from purple & pink “NoGo” bars through amber neutral and now the strongest blue “Go” bars as GoNoGo Oscillator broke out...

TylerWood2020

As breadth deteriorates across major indices, managers look to hold outlying leadership. This week it has been performance in tech and consumer discretionary holding up the S&p 500. If you drill into the top holdings of $XLK, the info tech sector, you see selling pressure in Adobe $ADBE, Salesforce $CRM, Microsoft $MSFT and others. There are only a few leaders...

TylerWood2020

GoNoGo Charts blend the most widely-used objective tools to simplify the analysis into a single, elegant display of the overall technical perspective in an easy-to-read color-coded data visualization. In this daily bar chart ($SOL/USD) Solana shows a resurgence of momentum in the direction of the trend as price rallied back to former highs. The bright blue color...