GoNoGoCharts

GoNoGoCharts

First we saw bullish divergence between price making a lower low and GoNoGo Oscillator making a higher low. The oscillator then rode the zero line for several bars as the GoNoGo Squeeze showed a tug of war between buyers and sellers. When this GoNoGo Squeeze was broken to the upside it did so on heavy volume as price climbed above horizontal resistance. This...

GoNoGoCharts

The concept of polarity suggests that there will be resistance where there was support earlier last year on this weekly chart of Netflix. The GoNoGo Trend indicator blends the foundational concepts of technical trend following to paint the price bar according to strength of trend. Currently we see that after rallying from the 2022 summer lows $NFLX is in a "Go"...

GoNoGoCharts

Plug fell out of the Go trend that it was in for much of the last year and has been in an established NoGo trend now for several weeks. As the NoGo trend was about to take hold, the GoNoGo Oscillator broke below zero and has stayed there ever since, finding resistance at the zero line as we know it should when the NoGo trend is healthy. Now, the recent rally in...

GoNoGoCharts

Was yesterday’s rally in the Nasdaq just a retest of the neckline of the head and shoulders or something more significant? After falling out of the “Go” trend on a break below the neckline, the QQQ rallied sharply yesterday. We saw bearish divergence as the GoNoGo Oscillator made a lower high as price peaked. Typical of this pattern when combined with the...

GoNoGoCharts

After a strong run, FUBO for the first time paints a "NoGo" color. We can see that the stock has consolidated in a coiling pattern for the last few months but until now was able to continue to paint the blue and aqua of the "Go" trend. The GoNoGo Oscillator crossed below zero some bars ago which caused more concern for the "Go" trend and this current price action...

GoNoGoCharts

What a day yesterday! Financial news and social media was aflame with concerned investors discussing how terrible the morning's trading was. And yes, that first hour was something. But, its important when there is volatility to stay calm and focused on the trend! By the close of trading, the S&P 500 had rallied and in fact closed in positive territory. The...

GoNoGoCharts

Historically, a rising spread between the 10 and 2 year treasury is a good thing for stocks. It shows confidence in the future. Looking at the GoNoGo Chart here we can see a very strong "Go" trend with price consistently making higher highs and higher lows. The GoNoGo Oscillator has also found support at the zero line throughout this move, as we'd expect during...

GoNoGoCharts

SENS seems to be following the same pattern as it already has twice on this chart. A sharp rise, followed by consolidation then a break out higher again. During this last consolidation, GoNoGo Charts flagged multiple low risk entries (green circles) towards the end of the correction, both around $2,75. The GoNoGo Trend is still a "Go" and looking strong as the...

GoNoGoCharts

We have been talking about the chart of DXY for several weeks in our Flight Path newsletter. Since originally seeing the bullish divergence between the GoNoGo Oscillator and price, we saw price break out to the upside of the downward sloping NoGo channel, and the GoNoGo Oscillator break above and find support at zero. Finally, we saw the GoNoGo Trend rotate...

GoNoGoCharts

After a “Go” signal on January 20th, price rallied to break above resistance and very nearly filled the gap from October. Price has come back dramatically since then, causing the GoNoGo Oscillator to crash back to the zero line. If this new “Go” trend is to persist, the GoNoGo Oscillator will need to find support at zero as it will if the trend is healthy. If...

GoNoGoCharts

In our Flight Path newsletter earlier in the week we highlighted LLNW as a small cap tech stock that looked to be forming a base. The “Go” flag appeared on the 20th of January and it has rallied since then. The last two days of the week saw a tumultuous end as Thursday’s strong day saw price push almost through the entirety of the gap but Friday saw it retrace...

GoNoGoCharts

Earlier in the week we were looking to see if Bank of America could find support at the Gap from the beginning of the year. 
For this entire “Go” trend that started early November, the GoNoGo Oscillator was able to find support at the zero line as it should in a healthy trend. Yesterday’s price action caused the oscillator to drop below zero, and for the GoNoGo...

GoNoGoCharts

A red, short term counter trend correction arrow came close to the high for Bank of America stock. The ensuing pullback has shown some weakness in price as the GoNoGo Trend has painted a string of paler aqua bars. Price fell into the gap yesterday but rallied to close at the top of the gap. This area (highlighted by a horizontal channel) should act as...

GoNoGoCharts

In our Flight Path newsletter on Monday morning, we noted slight oscillator divergence and the appearance of a stronger dollar may see EEM pull back slightly. Having said that, we reminded readers that the chart in the big picture is clearly bullish! The pull back didn’t happen this week as $EEM quickly moved higher. The “Go” trend is still in place and the...

GoNoGoCharts

Rio is once again back at the zero line on the GoNoGo Oscillator. Still in a “Go” trend, we are seeing momentum cool off and we will now look to see if the GoNoGo Oscillator will rally off the zero line and in which case suggest renewed momentum and a continuation of the “Go” trend that is in place in price. If that happens, we'll see a green low risk re-entry...

GoNoGoCharts Updated 

As price consolidates sideways we se the climbing grid of the GoNoGo Squeeze reaching extremes, indicating that we are seeing reduced volatility and market activity. 
It’s as if the stock is thinking. 
Currently in a “Go” trend, we will watch to see in which direction the GoNoGo Oscillator will break out of the squeeze to determine the likely direction of the...

GoNoGoCharts

In our Monday morning pre market Flight Path newsletter we took a look at $JEF. We mentioned that with the financials sector running up against long term resistance we may see a pause in names like Jefferies Financial Group. Indeed, we saw short term counter trend red arrows signaling that momentum having been overbought was now cooling off. 
While we haven’t...

GoNoGoCharts Updated 

After several periods of sideways consolidation which saw the GoNoGo Oscillator move below zero, there has been a significant move back into positive territory accompanied by increased volume. (Dark blue of oscillator). This has led to new “Go” signals and a green low risk entry signal under price on the previous bar. 
if this situation holds, expect price to...