GoNoGoCharts

GoNoGoCharts

At the beginning of the week in our Flight Path newsletter, we took a look at the Utilities sector and we saw how on a relative trend basis, utilities had started to outperform. NEE, the largest company by market cap in the sector, had broken out of the range it had been trading in and was on its way to a new high. We can see this on the daily chart to the...

GoNoGoCharts

The GoNoGo Chart of the EURUSD pair shows that price is still a “NoGo”. We saw a retest of the resistance line that was once support for the “Go” trend. During this time the GoNoGo Oscillator has been struggling with the zero line but now is back at zero. It will be important to see if the Oscillator stays below zero as it should if the “NoGo” trend is to continue.

GoNoGoCharts

There are many technical set ups that try to capture the specific market dynamics associated with trend continuation. We call them flags, pennants, buying the dips in an up trend or selling the rallies in a down trend, among other things. The underlying market activity in these situations helps explain what happens. In the case of a bullish move: For some...

GoNoGoCharts

After a rough spell, Intel looks to fight its way off the bottom. GoNoGo Trend flagged a “Go” trend on the 28th of September after a higher low was in place, and now we have seen the highs of the bottoming consolidation pattern broken. The top of the large breakaway gap will surely form resistance at around $60 and although there is likely to be resistance...

GoNoGoCharts

In our pre-market Monday Morning Flight Path newsletter, we noted that having been in a strong “Go” trend June through August, $LOW has consolidated sideways through September with rising lows and highs at the upper bound of the ascending triangle. We also saw upward buying pressure from the bulls pushing the lows higher. Additionally, a low-risk entry signal...

GoNoGoCharts

The GoNoGo Trend of TSLA shows an amber, neutral bar. As it seems to form a triangle, with lower highs and higher lows, this amber bar reflects a dent in the the electric car maker's strength. We noted a while ago that TSLA hadn't yet experienced the same threat to its "Go" trend as its rival tech giants such as Apple, Amazon and Microsoft, but perhaps this is a...

GoNoGoCharts

Plug has been a great trade with a "Go" trend established in April. There have been some consolidations but the trend hasn't been broken and we have seen several low risk entries identified by GoNoGo Charts displayed with green circles. On September 30th, we saw the latest of these, just before the most recent price surge. This surge also has pushed price to...

GoNoGoCharts

WTI crude front month futures have fallen far and fast in the current session to the tune of almost 4% as price was turned away by the overhead supply around 41. This move has triggered a low risk re-entry signal (red circle) into the "NoGo" trend that has been in place for several weeks. This comes as the GoNoGo Oscillator breaks out of a strong GoNoGo Squeeze...

GoNoGoCharts

After signaling a "Go" trend a few weeks ago, the dollar index has fallen back to support that was resistance. While price has corrected, the GoNoGo Oscillator has slipped back to the zero line. If this "Go" trend is healthy enough to persist, then the oscillator will have to find support at zero and rally back into positive territory.

GoNoGoCharts

The S&P 500 entered a "NoGo" trend at the beginning of last week and has since tried to claw its way out of it. It will be an uphill battle. The GoNoGo Oscillator is testing the zero line from below and all else being equal should find resistance here. If the oscillator is turned away and moves into negative territory once more look for price to remain in the...

GoNoGoCharts

On Monday in our Flight Path newsletter, we highlighted TSLA as a tech company that hadn't seen the same downward turn as some of its rivals and so expected further correction. Since Monday, the electric car maker has retraced as much as %20 (intraday, during the session yesterday) We still see bearish pressure threatening to end the "Go" trend of TSLA, with...

GoNoGoCharts

Ford has slipped into a "NoGo" trend after battling to stay in a "Go" trend for a few months. This price correction has also pushed the oscillator into negative territory, breaking through the zero line on heavier than average volume (depicted by the GoNoGo Oscillator's darker blue color) We will be looking for a retest of zero from below, and if it fails again...

GoNoGoCharts

We’ve been waiting for the environment to change on the Dollar. Indeed, a few days ago, we noted that there were bullish signs and that the Dollar index was trying to halt its fall. In that post, we spotted positive divergence between price and the GoNoGo Oscillator as well as the break above the zero line as being significant. 
 Well, here we “Go”! The GoNoGo...

GoNoGoCharts

It is an important moment for the Dollar Index. The GoNoGo Trend is still a “NoGo” but there are signs this may be weakening. We saw bullish divergence between price and the GoNoGo Oscillator with price making lower highs but the oscillator not confirming, in fact making higher lows. Most recently, the GoNoGo Oscillator has broken above the zero line and...

GoNoGoCharts

In our Flight Path newsletter on Monday, we looked at Rio Tinto as a option for capturing any return from the upside potential of Gold prices. 
We noted that Gold, while still in a “Go” trend, has been consolidating sideways and has experienced an extreme GoNoGo Squeeze. Gold hasn’t moved much this week, but we still see that it is in a renewed Go trend and so...

GoNoGoCharts

The futures are significantly down this morning. This price action could be significant as the GoNoGo Trend is painting an amber neutral bar for the first time since the “Go” was solidified back in April. This comes after a pullback from the latest peak that was highlighted by the red counter trend correction arrow on September 3rd. The GoNoGo Oscillator broke...

GoNoGoCharts

Peloton Interactive, has been in a strong “Go” trend, one that perhaps we should have all seen coming at the onset of global lock down. After rallying over 250% since the “Go” flag on April 8th we are seeing a pullback from the most recent high.
The GoNoGo Trend has painted a couple of paler aqua bars indicating slight weakness in the “Go” trend and this price...

GoNoGoCharts

Bitcoin has consolidated sideways, finding support around 10,000 after dropping out of its “Go” trend at the beginning of the month. Now, the GoNoGo Oscillator is riding the zero line, finding resistance as it runs up against it from below. If this “NoGo” trend is to continue, then we will likely see the GoNoGo Oscillator fail here, and get turned away by the...