$RJF has been in a “Go” trend since late August.
Now, having hit another higher high, we see that price has fallen from that high after two Go Countertrend Correction Icons (red arrows). We saw GoNoGo Trend paint a series of weaker aqua bars reflecting the weakening trend and waning momentum as GoNoGo Oscillator fell to the zero line. With a “Go” trend in place, we know that the oscillator should stay at or above the zero level and so we have been watching closely as it tests that level. With volume remaining elevated (dark blue color of oscillator) we see that momentum has rallied off the zero line back into positive territory. This tells us that momentum is resurgent in the direction of the underlying “Go” trend and so we will look to see if this gives price the push it needs to move to a new higher high in the coming days/weeks.
