$HLT had been struggling since hitting highs in March.
We saw a Go Countertrend Correction Icon at the high on March 28th, indicating that price may struggle to go higher in the short term. Indeed, GoNoGo Trend then painted a string of weaker aqua “Go” bars as GoNoGo Oscillator fell to test the zero line. After GoNoGo Oscillator broke out of a Max GoNoGo Squeeze and fell into negative territory, price entered a “NoGo” trend in the middle of April. Since then, we have seen much uncertainty in the price action. While the trend was strong at first, the last month has seen only weaker pink “NoGo” bars and amber “Go Fish” bars reflecting market indecision. During this time, GoNoGo Oscillator was unable to move significantly away from the zero line. Now, we see that as GoNoGo Oscillator breaks out of a GoNoGo Squeeze into positive territory again, GoNoGo Trend shows the “Go” trend has returned. We know that price is in a “Go” trend on the larger weekly trend as well, and so with surging momentum in the direction of a new daily “Go” trend, we will expect price to attempt a new higher high.
