Good morning and welcome to this week’s Flight Path. Equities noticed the “Go” pattern stay robust with one other uninterrupted week of robust blue “Go” bars. Treasury bond costs remained within the “Go” pattern as properly however we noticed a complete week of weaker aqua bars. U.S. commodities noticed the “Go” pattern strengthen this week after a number of weaker aqua bars final week. The greenback held on to its “NoGo” pattern however painted weaker pink bars to finish the week.
$SPY Continues in Robust “Go” Development
The GoNoGo chart beneath reveals that the “Go” pattern continued this week and maintained its power. An entire week of robust blue “Go” bars noticed worth hit one other larger excessive. GoNoGo Oscillator stays in optimistic territory at a price of three however is not overbought.
The longer timeframe chart reveals us that the “Go” pattern stays robust this week with one other brilliant blue “Go” bar. Nonetheless, it was a really small weekly buying and selling vary as worth crept to a brand new larger excessive. GoNoGo Oscillator is in optimistic territory at a price of three however has not reached the identical highs because it did on the final worth excessive.
“NoGo” Development Continues with a Full Week of Pink Bars
Treasury bond yields appear to have set a brand new decrease low as worth fell from the mid week excessive and GoNoGo Development painted weak pink bars. GoNoGo Oscillator is driving the zero line and we see a GoNoGo Squeeze constructing near its Max. It will likely be necessary to observe to see by which path the Squeeze is damaged. If the oscillator breaks out of the GoNoGo Squeeze into destructive territory then we’ll see indicators of NoGo Development Continuation and search for worth to problem for brand spanking new lows.
The Greenback Paints Weaker Pink “NoGo” Bars
Worth continues to consolidate sideways this week and GoNoGo pattern has began to color pink bars because the “NoGo” pattern weakens. Throughout this time, GoNoGo Oscillator has struggled to maneuver away from the zero line and has now dipped again into destructive territory. If the oscillator stays destructive, we’ll say that momentum stays on the facet of the “NoGo” pattern. If the oscillator recaptures optimistic territory it might sign that momentum is out of step with the pattern.
Tyler Wooden, CMT, co-founder of GoNoGo Charts, is dedicated to increasing the usage of knowledge visualization instruments that simplify market evaluation to take away emotional bias from funding selections.
Tyler has served as Managing Director of the CMT Affiliation for greater than a decade to raise buyers’ mastery and ability in mitigating market danger and maximizing return in capital markets. He’s a seasoned enterprise govt centered on instructional expertise for the monetary companies business. Since 2011, Tyler has offered the instruments of technical evaluation around the globe to funding corporations, regulators, exchanges, and broker-dealers.
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Alex Cole, CEO and Chief Market Strategist at GoNoGo Charts, is a market analyst and software program developer. Over the previous 15 years, Alex has led technical evaluation and knowledge visualization groups, directing each enterprise technique and product growth of analytics instruments for funding professionals.
Alex has created and carried out coaching applications for big companies and personal purchasers. His instructing covers a large breadth of Technical Evaluation topics, from introductory to superior buying and selling methods.
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