$ADBE has been in a “Go” trend since May.
We have seen price move sideways since hitting highs in July. Go Countertrend Correction Icons (red arrows) indicated that it may be tough for price to move higher in the short term. August has seen GoNoGo Trend paint mostly weaker aqua bars and on the 9th we saw GoNoGo Oscillator break out of a small GoNoGo Squeeze into negative territory. With momentum negative, it proved too much for price and it was unable to continue to paint “Go” bars with an amber “Go Fish” bar creeping in on the last session. GoNoGo Oscillator is now back at the zero line, testing it from below. We will watch to see if it gets rejected here and if it does, could be an opportunity to front run a new “NoGo” trend.
