Is There Enough Momentum to Change the Trend? | GoNoGo Charts

On this week’s show, Alex and Tyler take a look through the markets and discuss how the “Go” trend in the dollar is being tested for the first time in months. Likewise, the relentless rising rates of the last few months have also taken a moment to pause. They discuss how the charts give insight into possible next moves.

 

The relaxing of these headwinds (rising rates and strong dollar) perhaps helped equities rally this week, and so Alex pulls up charts of $SPY to see if there is enough momentum to change the trend.

 

00:00 – Introduction

01:01 – Asset Class Heat Map

03:11 – US Dollar $UUP: Daily (Weak Go), 1 hr (NoGo)

04:44 – $TNX – Yield pullback (AMBER) – retest 2018 highs, support?

09:00 – S&P 500: Daily & Weekly

12:44 – GoNoGo Sector RelMap

14:55 – Netflix (NFLX) Daily Chart

19:13 – Nvidia (NVDA), Positive Divergence, but still NoGo

20:44 – Nat Gas Futures ($BOIL), Reentry to new highs +10% this week

24:08 – Occidental Petroleum ($OXY), Daily, Weekly (New Highs, Momentum)

 

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$SPY $WEAT $XLF $XOM BAC Charts gonogo TGT WMT

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