GoNoGoCharts

GoNoGoCharts

Here we are, at a pivotal moment on the weekly timeframe for the S&P500. The rally from the lows of March has allowed the GoNoGo Trend indicator to finally paint a neutral amber bar, rather than the purple/pink of a bearish market. At this juncture, we wouldn’t say we are bullish yet on this time frame. 
To make that case, we’d need to see the GoNoGo Oscillator...

GoNoGoCharts

Bitcoin has been ranging since the end of April. On the 4 hour chart, GoNoGo Trend has flagged a “Go” suggesting that it may try to test the higher end of the range soon. The GoNoGo Oscillator shows increasing positive momentum and it is crossed above zero serval bars ago. If this leads to continued price strength, look for 10000 to be tested once again.
10,000...

GoNoGoCharts

Is the tide turning for GE?
For the first time since February 26th the GoNoGo Trend indicator is unable to paint a bearish color instead showing the amber neutral of “No Trend”. This color change has happened on a gap and above prior highs. 
The GoNoGo Oscillator hinted at this change as it broke above zero for the first time since mid February one bar earlier. ...

GoNoGoCharts

After a nice run that was highlighted by the blue “Go” bars, we see a change in trend on the 4hr chart. A sideways consolidation broke our initial trend line and then the recent, shorter term support line was broken with an amber trend neutral bar. The GoNoGo Trend is now painting pink bars, the first bars of a bearish trend. This move came as price broke out...

GoNoGoCharts

With Bitcoin falling back from 10,000 let’s take a look at Ethereum, one of the most traded cryptocurrencies. After rising since the last “Go” on April 16th, the coin has consolidated and traded sideways since the end of April. During this time, we have noticed reduced volatility and reduced volume as we can see from the GoNoGo Squeeze and the Oscillator...

GoNoGoCharts

This is a great chart! Babcock and Wilcox Enterprises exploded into a “Go” trend on the 11th of May after having been hit really hard by the bear market we’ve been in. Price consolidated in a pennant pattern after the initial move but looks to have broken out of the pattern to the upside.
It is encouraging that on the break, the GoNoGo Trend indicator has painted...

GoNoGoCharts

As we noted in a previous idea, Amazon was ready for a move. After the GoNoGo Squeeze highlighted reduced volatility we were expecting a move of the GoNoGo oscillator off the zero line. Given that the trend was a “Go” we thought it was likely to move up.
Now that this has happened, we are testing resistance from prior highs and if we can stay above there may be...

GoNoGoCharts Updated 

Is Target oversold? GoNoGo Trend is a “Go” but in all trends there are counter trend corrections. The red arrow above the last bar shows that the GoNoGo Oscillator was at an extreme and suggests that Target may move lower over the next few bars. If this happens look for the GoNoGo Oscillator to bounce off zero and a green circle for a possible entry into the trend.

GoNoGoCharts

Could it be? Could the trend be changing for Carnival Corp.? 
After a precipitous crash due to the Coronavirus global pandemic, the cruise ship company has been floundering in a low volatility sideways correction since the end of March. The GoNoGo Squeeze is really on, with the indicator climbing to its extreme a few times during this consolidation. Currently,...

GoNoGoCharts

There really is a great deal of overhead resistance on the Bitcoin chart. Again turned away from around 10,000 price action has stalled causing the GoNoGo Trend to paint the weaker pale blue bars. The GoNoGo Oscillator reflects this cooling momentum as it has once again dropped to the zero line. However, the GoNoGo Trend is still a "Go" and we are looking to see...

GoNoGoCharts

The giant online retailer appears ready for a move. The GoNoGo Trend is a “Go” but it is currently weakening. The GoNoGo Oscillator is at zero and looking to find support. The Squeeze is on and has been for several bars! We need to wait for price to tell us which way it is going on this one. While the trend is up and the oscillator is finding support at the zero...

GoNoGoCharts

The stock market rally has faltered and perhaps with it is a decline in investor confidence. The reality of economic woes perhaps are sinking in. When confidence falls, investors buy safe assets and the 10Y treasury yield is important to look at. As more investors start to buy this asset to protect their investment, price will go up and yield will go down....

GoNoGoCharts

Gold continues to struggle to find direction. When we last looked at Gold we said “We will be looking closely at the GoNoGo Oscillator in the coming few days to see if it can find support at zero.” Here we are, still watching the zero line and the GoNoGo Squeeze is on!
 The GoNoGo Squeeze in the lower panel (grey arrow) is showing extremely reduced volatility as...

GoNoGoCharts

The daily GoNoGo Chart of the Euro / British pound cross looks like it is forming a base. The GoNoGo Trend is showing “NoGo” but it is weakening as depicted by the paler pink bars. We look to the GoNoGo oscillator to confirm the price action and if this “NoGo” trend was strong then we’d expect it to find resistance at zero as it did from the 22nd to 27th of April....

GoNoGoCharts

Oil has consolidated sideways for most of May. The GoNoGo Trend indicator has been able to maintain its “Go” trend throughout this period on a 4 hour chart. The reduced volatility is visualized by the GoNoGo Squeeze indicator in the oscillator panel. We saw the grid climb to its maximum (green arrow) and stay there until price started to move today. We see a...

GoNoGoCharts

On the daily chart the cryptocurrency is in a “Go” as depicted by the blue bars but yesterday’s large down day has sent the GoNoGo Oscillator crashing to the zero line. There should be support here if the current up trend is healthy. Look for a bounce off the zero line, back into positive momentum, and for the “Go” trend to continue, pushing prices back near...

GoNoGoCharts

Long post but so much information! Ford Motor Company is consolidating sideways after the precipitous drop that came with Covid-19.
The GoNoGo Charts highlight many traditional aspects of technical analysis and they can be seen here on the chart of Ford.
The GoNoGo Trend indicator has illuminated the down trend with consistent bearish purple and pink bars but...

GoNoGoCharts

GE is testing the March lows on the Daily GoNoGo chart. There hasn’t been much to be bullish about though for General Electric as the GoNoGo Trend indicator is consistently painting bearish purple and pink bars. While there may be some support at these levels the prevailing trend is down. In fact, we recently saw a red re-entry circle which signaled a renewed...