$RVTY has been in a “Go” trend since the middle of July.
The GoNoGo Chart showed that after hitting a high at the end of July there was waning momentum. This was reflected in the Go Countertrend Correction Icon (red arrow) just after the high. This told us that price may struggle to go higher in the short term. Indeed, we then saw GoNoGo Trend paint a string of weaker aqua “Go” bars as price fell from the high. During this time, GoNoGo Oscillator fell to the zero line where we wanted to see it find support. It remained at that level, with no clear directional winner, as we saw an extended Max GoNoGo Squeeze build. As price stabilized, GoNoGo Trend painted strong blue bars again and we now see that GoNoGo Oscillator has broken out of the GoNoGo Squeeze into positive territory. With momentum resurgent in the direction of the underlying “Go” trend, we will look to see if price can make an attack on a new higher high.
