$FI has been in a “Go” trend since early July.
Since then we have seen multiple higher highs and higher lows. After the last high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. This was due to waning momentum as GoNoGo Oscillator fell out of overbought territory. Indeed, GoNoGo Trend then painted a series of weaker aqua “Go” bars and GoNoGo Oscillator fell to test the zero line from above. After resting at zero for a few bars, allowing a small GoNoGo Squeeze to build, GoNoGo Oscillator has bounced back into positive territory just as GoNoGo Trend paints a new strong blue “Go” bar. With momentum now resurgent in the direction of the underlying “Go” trend, we will look to see if this gives price the push it needs to set a new higher high.
