$MMM has been in a “Go” trend for a month.
In the last “NoGo” trend, we saw momentum wane and GoNoGo Oscillator rose to test the zero line. It remained stuck there for several bars, allowing the climbing grid of GoNoGo Squeeze to rise to its Max. When this Max GoNoGo Squeeze was broken into positive territory this was a good sign for the bulls. Heavy volume ensured (dark blue oscillator) and then GoNoGo Trend recognized a “Go” trend as price raced higher. We have already seen a second higher high and a higher low, and GoNoGo Oscillator has been able to find support at the zero line as it should in a healthy trend. Now, with price looking to have set another higher low at levels that should offer support, GoNoGo Oscillator has bounced off the zero line again, triggering a Go Trend Continuation Icon (green circle) telling us that momentum is resurgent in the direction of the “Go” trend. We will look for price to make an attempt at another higher high.
