Worried about the stock market and if it can continue higher after this impressive rally since the lows of March? GoNoGo Charts sees a “Go” trend emerge on the iShares 20 year treasury bond fund. Perhaps we are seeing a movement of money from stocks to bonds, in a bet to hedge against a stock market downturn. The GoNoGo chart above shows that the GoNoGo Oscillator has been positive and above zero since June 17th. Recently, the GoNoGo Trend indicator has struggled to stay “NoGo” as shown by the appearance of a few amber, neutral bars. On the current bar, the trend in the treasury bond fund is a “Go”.
What are the GoNoGo Indicators? The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from *bright blue (strongly *bullish) to dark *purple (strongly *bearish) The GoNoGo Oscillator blends traditional *momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely *oversold) to +6 (extremely *overbought)