$CLX hit a high mid September in its last “Go” trend.
After that high, we saw a Go Countertrend Correction Icon (red circle) indicating that price may struggle to go higher in the short term. Indeed, we saw $CLX meander lower since then and even enter a brief “NoGo” trend. GoNoGo Oscillator tipped us off to the coming longer correction when it failed to hold the zero line and broke out of a Max GoNoGo Squeeze into negative territory in early October. The oscillator stayed at or below zero until recently, when at the beginning of this month it was able to burst back into positive territory on heavy volume. With momentum positive and volume high, GoNoGo Trend recognized a shift in trend painting first a couple of aqua bars before strong blue bars took over as price rallied to test the prior high. With momentum on the side of the underlying “Go” trend, we will watch to see if price can climb to new higher highs.
