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Gonogo

What is the path ahead for Peloton?Peloton Interactive, has been in a strong “Go” trend, one that perhaps we should have all seen coming at the onset of global lock down. After rallying over 250% since the “Go” flag on April 8th we are seeing a pullback from the most recent high.
The GoNoGo Trend has painted a couple of paler aqua bars indicating slight weakness in the “Go” trend and this price action has caused the GoNoGo Oscillator to fall to the zero line. There is enthusiasm in general in this stock as we have seen heavy volume as price has run up to recent highs. We will look to see if the Oscillator can hold the zero line and find support there. If it bounces off zero we will see that as a resurgence in the current “Go” trend.
NASDAQ:PTON
by GoNoGoCharts
2
Bearish signs for Oil futures The GoNoGo Trend indicator has painted an amber neutral bar on front month WTI oil futures indicating that the environment is no longer bullish but uncertain. This comes as there continues to be bearish divergence between the price and the GoNoGo Oscillator, with price making higher highs while the oscillator makes lower highs. To further compound this, the GoNoGo Oscillator has broken below zero into negative territory, suggesting that momentum is now bearish.
NYMEX:CL1!
by GoNoGoCharts
Another stock split, more of the same for Apple!On Friday, Apple stock had a 4-1 stock split, making the price more affordable for investors. On Monday, investors piled into the stock. This chart is a short term chart of Apple stock, using 1 hr periodicity. As we can see, the first hour of trading on Monday caused the GoNoGo Charts to flag a low risk buy entry (green circle) and it has been onward and upward since then.
Accompanying this move, we can see heavy volume, represented by the dark blue of the GoNoGo Oscillator, signaling that investors were rushing to take part in the move.
NASDAQ:AAPL
by GoNoGoCharts
Consumer discretionary sector obliterates competition this yearThe consumer discretionary sector’s outperformance relative to the S&P 500 jumps of the page as the longest and strongest sustained Go Trend of all S&P sectors this year.  We need to see the price action to better understand what is happening. Below is the daily GoNoGo chart of the consumer discretionary sector ETF, $XLY.   Compared to an $SPY chart which shows the broad U.S. equity market valiantly trying to make new highs, the consumer discretionary sector has obliterated it’s own prior highs and has been surging to new levels of uncharted price territory for over a month now.  You will notice several trading days when the GoNoGo Oscillator® (bottom panel) has bounced off the zero-line. Each of these highlights low-risk entry points for investors looking to join the trend and we can see how momentum has barely dipped into negative territory during the entire period.
AMEX:XLY
by GoNoGoCharts
2
Big move for Walmart!It was a big move for Walmart yesterday. The GoNoGo Trend indicator repainted a Go flag on the close, renewing the Go trend that has been trying to take off. Yesterday’s price action also briefly scaled the high of the previous best bar on August 18th. Of note though, it was unable to close above it. The GoNoGo Oscillator has turned up from zero, also a *bullish sign. It looks as though price will endeavor to move higher, especially if it can consolidate above those highs.
NYSE:WMT
by GoNoGoCharts
2
The trend is over for Novavax, Inc?What a run that was! From the Go signal in January at under $6, Novavax, Inc rallied all the way to $190. Now, however, the trend has changed. The GoNoGo Trend flagged a NoGo yesterday on the daily chart, after one neutral amber bar that suggested the Go trend was over. Early warning was given by the GoNoGo Oscillator, which on August 12th crossed below the zero line, indicating that momentum had turned negative for the first time in months. It was then turned away by the zero line a bar before the GoNoGo Trend painted the amber bar. The environment is bearish and further rejections at the zero line for the GoNoGo Oscillator would suggest a deeper NoGo trend.
NASDAQ:NVAXShort
by GoNoGoCharts
NIO testing prior highs!On August 6th, we wrote about how GoNoGo Charts had given a low risk entry on NIO and how it might go on to test the highs of a few weeks earlier. After the GoNoGo Oscillator bounced off the zero line a second time we indeed have seen that push up to test the high. Currently we are at the highs of July and the GoNoGo Oscillator is positive with a little room perhaps to go. If price can break out and consolidate above these highs, look for the Go trend to continue.
NYSE:NIO
by GoNoGoCharts
Opportunity for Stratis?Since hitting recent highs in July, the blockchain platform has corrected sideways. With that correction, the GoNoGo Oscillator gave an advance warning of the GoNoGo Trend color change by breaking into negative territory. After struggling with resistance at the zero line, recent price action has enabled the GoNoGo Oscillator to cross back into positive territory. This was a sign that the environment may be changing. Now, after a couple of neutral amber bars, the current price bar is flagging a “Go” signal suggesting that the trend is now bullish. If the GoNoGo Oscillator can consolidate above zero here we can look for price to make a break higher.
SLong
by GoNoGoCharts
The Squeeze is on for GoldThe Squeeze is on for Gold. After briefly breaking above 2000, price has come back and in the process positive momentum has dried up. The GoNoGo Trend is still a “Go” but the GoNoGo Squeeze indicator shows the climbing grid at extremes indicating that momentum has been neutral for several bars. It will be important to see which direction price goes out of the squeeze. If it rallies, then we’d expect the “Go” trend to remain in tact and price to approach the recent high levels again. If the Squeeze ends with momentum turning negative, then the “Go” trend in price will be in danger.
TVC:GOLD
by GoNoGoCharts
1
Important moment for the Dollar Index!Important moment for the Dollar Index! After months in this current “NoGo” trend we see some signs that the Dollar maybe strengthening against the basket of other currencies. There is bullish divergence, with price making lower lows and the oscillator making higher lows. I have highlighted this with the grey trend lines.
Also, the GoNoGo Oscillator is testing zero from below, meaning that the bearish momentum has for the moment cooled. If the oscillator can break above zero into positive territory then that would be a sign that the “NoGo” trend is threatened. If the zero line holds as resistance, and the oscillator gets turned away back into negative territory then there maybe more struggles ahead for the Dollar index.
TVC:DXY
by GoNoGoCharts
1
TSLA continues to lead the market higher!Since the GoNoGo “Go” flag on the 16th of April, Tesla stock has surged 150%! Most recently, the close on 8/13 gave another low risk entry green circle. The stock then rallied to new all time highs, closing at 1835.64 yesterday. The GoNoGo Oscillator shows that there has been strong participation in this current push higher (darker blue line) and is currently at an overbought extreme. As is typical of a strong trend, momentum will range from overbought to neutral. Be prepared for a small consolidation/pullback from these extremes but remember, the trend is a “Go” on the electric car maker.
NASDAQ:TSLA
by GoNoGoCharts
1
Bitcoin resting again before another move?On 7/22, the GoNoGo Trend flagged a “Go” for *Bitcoin. This trend change happened as the GoNoGo Oscillator broke out of the climbing grid of the GoNoGo Squeeze (first grey arrow lower panel). *Bitcoin has been consolidating in a range with lows around 11,000 and highs of 12,000 since the move. 
Now for the first time in this “Go” trend, the GoNoGo Oscillator is back to test zero (second grey arrow lower panel). If the trend is healthy, we expect this to be support and for the world’s largest crypto to rally once more. If the oscillator fails to find support at zero, breaking into negative territory, then the “Go” trend would be threatened. The longer the GoNoGo Oscillator stays at zero, the bigger the squeeze we’ll see and with it, greater potential for a volatile move to follow.
COINBASE:BTCUSD
by GoNoGoCharts
PLUG surging above $10!PLUG has been in a strong "Go" trend and has now broken out of a corrective trend channel to the upside. The prior bar was enough to give a low risk re-entry on the GoNoGo Trend chart. Having moved sharply up it has eclipsed the highs of the consolidation pattern and now should find support around the strong psychological level of $10. What are the GoNoGo Indicators? The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from *bright blue (strongly *bullish) to dark *purple (strongly *bearish) The GoNoGo Oscillator blends traditional *momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely *oversold) to +6 (extremely *overbought)
NASDAQ:PLUGLong
by GoNoGoCharts
NIO to rally and test prior highGoNoGo Charts is showing a low risk entry (green circle) into the the “Go” trend that is in place. We saw a long GoNoGo Squeeze in effect for the past several bars. Now, the GoNoGo Oscillator has found support at the zero line and broken out of the squeeze into positive territory. We expect price to rally in the short term and likely test the previous high around $16. What are the GoNoGo Indicators? The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from *bright blue (strongly *bullish) to dark *purple (strongly *bearish) The GoNoGo Oscillator blends traditional *momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely *oversold) to +6 (extremely *overbought)
NYSE:NIOLong
by GoNoGoCharts
Important moment for the EURUSD cross as momentum dries up!It is an mportant moment for the EURUSD cross. After a sustained rally against the Dollar, the Euro’s relentless price action has cooled slightly. We see a few paler blue GoNoGo Trend bars, indicating the environment, while still a “Go” is slightly less *bullish. We also see a short term counter correction red arrow, signaling in the short term a consolidation/pullback could occur. On the GoNoGo Oscillator, we see that it is is very close to zero. Positive momentum has faded. We would need to see the zero line hold as support for the oscillator and a rally back into positive territory to be confident that the Go trend in price will persist. What are the GoNoGo Indicators? The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from *bright blue (strongly *bullish) to dark *purple (strongly *bearish) The GoNoGo Oscillator blends traditional *momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely *oversold) to +6 (extremely *overbought)
by GoNoGoCharts
Is there still reason to doubt this U.S. market rally? (SPX)The above is the daily technical picture of the S&P 500. Clearly, the trend is a “Go”. However, there are a few things to consider. There is *bearish divergence between the higher highs in price and the lower highs of the GoNoGo Oscillator. 
Momentum has also stalled, as the GoNoGo Oscillator has fallen to test zero from above. For price to set a new higher high, we’d expect to see the Oscillator bounce back into positive territory. Finally, there is not a lot of volume on the recent move to the high on July 22nd. We can see this because the GoNoGo Oscillator is a pale blue, not the dark blue that represents heavy volume. We saw much more volume into the prior high in June. What are the GoNoGo Indicators? The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from *bright blue (strongly *bullish) to dark *purple (strongly *bearish) The GoNoGo Oscillator blends traditional *momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely *oversold) to +6 (extremely *overbought)
SP:SPX
by GoNoGoCharts
GBPAUD trend has turned bullish!There has been a trend change for this pair! The unique blend of robust technical trend concepts that combine to create the colors of the GoNoGo Trend have caused the study to paint the first bullish “Go” bar in several months. The current bar is also above prior swing highs. We expect an initial test of 1.8455. What are the GoNoGo Indicators? The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from *bright blue (strongly *bullish) to dark *purple (strongly *bearish) The GoNoGo Oscillator blends traditional *momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely *oversold) to +6 (extremely *overbought)
Long
by GoNoGoCharts
2
Facebook trend turns bearishHaving looked at the Technology sector etf XLK yesterday, let’s look at a GoNoGo chart of one of the giants of the S&P 500, Facebook. This is a daily chart of Facebook stock prices. We see a trend change for the social media company with the GoNoGo Trend flagging a “NoGo” on the most recent bar. This tells us that our blend of technical concepts is bearish, for the first time since the rally started in April. Preceding the trend change there was strong bearish divergence, where price continued to make higher highs while the GoNoGo Oscillator made lower highs.
Eventually, momentum turned negative, causing the Oscillator to break into negative territory. This has now been confirmed by the GoNoGo Trend’s “NoGo”.
NASDAQ:METAShort
by GoNoGoCharts
4
GoNoGo Charts: Can Technology continue to dominate?The technology sector has outperformed on a relative basis in 2020. Tech stocks in general were hit less hard by the COVID-19 pandemic and have rallied quicker and further than the rest of the market since the lows in March. Right now, the five largest stocks by market cap in the S&P 500 are Microsoft, Apple, Amazon, Facebook and Google. And between them, they make up around 20% of the index. They have been the drivers of the current post crash move. So what happens if technology starts to struggle? Is it time to protect against downside risk? The above chart is the daily GoNoGo chart of the Technology sector Spyder, XLK. While it is still in a “Go” trend, there are some signs of troubled water ahead. Price has fallen below an upward sloping trend line, and could likely now find it to be resistance. In doing so, it looks to have made a lower swing low. If we look at the GoNoGo Oscillator in the lower panel, we see strong *bearish divergence. While price has continued to make higher highs, the oscillator has not confirmed, instead making successive lower highs. We are at an inflection point, with the GoNoGo Oscillator resting at zero. We would need to see this hold as support and then bounce off zero if the “Go” trend is to persist. If the oscillator fails at zero, breaking into negative territory, we expect price to correct further, potentially leading to a change in the GoNoGo Trend above.
AMEX:XLK
by GoNoGoCharts
2
GoNoGo Charts looks at long term trend for Coca-ColaThe chart above is a GoNoGo weekly chart of Coca-Cola. This long term chart shows how the beverage maker has rallied from the extreme low in March only to be turned away by resistance around $50 several times. Currently, price is marching up to that level again and this time it has some bullish momentum with it. The GoNoGo Oscillator has not been turned away from the zero from below but instead has broken into positive territory. The trend is still “NoGo” but perhaps this time price can break above resistance and if so, bring about a longterm change to a “Go” trend. What are the GoNoGo Indicators? The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from *bright blue (strongly *bullish) to dark *purple (strongly *bearish) The GoNoGo Oscillator blends traditional *momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely *oversold) to +6 (extremely *overbought)
NYSE:KO
by GoNoGoCharts
GoNoGo Charts: Has Bitcoin woken up?A few bars ago saw a “Go” flag on the daily GoNoGo chart of Bitcoin. As we previously highlighted, Bitcoin had slipped into a low volatility consolidation that was shown on the GoNoGo Charts by the climbing grid of the GoNoGo Squeeze. Analysts understand that after periods of low volatility like this, price often breaks out and can move sharply. The Squeeze has been broken, with the GoNoGo Oscillator moving into positive territory, accompanying the GoNoGo Trend change to a “Go”. We look for the cryptocurrency to once again attempt to break resistance at 10,000. What are the GoNoGo Indicators? The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from *bright blue (strongly *bullish) to dark *purple (strongly *bearish) The GoNoGo Oscillator blends traditional *momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely *oversold) to +6 (extremely *overbought)
BITSTAMP:BTCUSDLong
by GoNoGoCharts
GoNoGo Charts sees positive price action for Pfizer, IncGoNoGo Charts has flagged a recent “Go” signal on Pfizer Inc, and this has driven price higher to test previous highs. If price can consolidate above this level that would be a very good sign. The GoNoGo Oscillator crossed into positive territory on a surge in price several bars before the “Go” flag, suggesting the trend change. Of note now, is the heavy volume that is starting to accompany the bullish price action. This is indicated by the oscillator’s darker blue color (small grey arrow in the oscillator panel). The GoNoGo Oscillator is at an overbought extreme, but if the ensuing price pause can stay at current levels we would look for another push higher. What are the GoNoGo Indicators? The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from *bright blue (strongly *bullish) to dark *purple (strongly *bearish) The GoNoGo Oscillator blends traditional *momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely *oversold) to +6 (extremely *overbought)
NYSE:PFE
by GoNoGoCharts
2