After short term counter trend corrections have correctly highlighted both recent tops, we will be looking for a re-entry into the new “Go” trend.
This will happen if the GoNoGo Oscillator finds support now at the zero line. Selling shouldn’t be aggressive enough to force the oscillator into negative territory if this “Go” trend is healthy enough to remain in place.
If we do see a rally off zero, and a green re-entry circle, then look for price to try to test the high of early September.
By
Alex Cole
