$CTAS has been in a “Go” trend since the few “Go Fish” bars in May.
Since then we have seen higher highs and higher lows. Late last month, we saw a new high that was accompanied by a Go Countertrend Correction Icon (red arrow) as momentum peaked and waned. That told us that price may struggle to go higher in the short term and indeed we saw GoNoGo Trend paint a series of weaker aqua bars as price fell. During that time, GoNoGo Oscillator fell to test the zero level from above and it remained there as the grid of GoNoGo Squeeze climbed to its Max. When the oscillator broke out of the Max GoNoGo Squeeze into positive territory, GoNoGo Trend was painting strong blue bars once again. Now, with momentum resurgent in the direction of the underlying “Go” trend, we will watch to see if that has given price the push it needs to make a break for new highs.
