Investing in treasuries has always been seen as a flight to safety and this last few months has been no different. Although the S&P 500 has rallied sharply since falling into a bear market in March, it is still down around 14% year to date. TLT, the treasury bond fund, on the other hand, is up almost 25% over the same period.
The GoNoGo Trend signaled a “Go” early in January and although it painted 1 amber bar on the 18th of March has continued to paint blue bars ever since. Note that there have been several green re-entry icons during this time. Interestingly, we recently tested zero on the GoNoGo Oscillator and have bounced off it. This suggests a renewed upward move. The most recent re-entry green circle was April 20th. An upside target could be the prior high on March 9th.
What does this mean for the S&P 500? See the linked idea below.
I was unable to link in the idea itself. See
"Look to the larger trend for S&P 500 next move"