$NVDA had been painting a string of amber “Go Fish” bars as the market was undecided so far this week.
GoNoGo Trend had started painting amber “Go Fish” bars after GoNoGo Oscillator had broken through the zero line into positive territory. This was the first indication that the “NoGo” was under threat. Now we see a new aqua “Go” bar and GoNoGo Oscillator is in positive territory but not yet overbought. Momentum is in the direction of this new “Go” trend. If we look at this with the perspective of the larger weekly chart, we could see this as an opportunity to participate in the larger “Go” trend. On the weekly, we have never left the “Go” trend, and the oscillator has found support at zero over the last few weeks telling us the trend is likely to continue. GoNoGo Trend is also painting strong blue “Go” bars.
