GoNoGoCharts

GoNoGoCharts

Happy Thanksgiving extra idea! A lot of discussion surrounding the electric vehicle market is whether TSLA can hold on to its market share. Fisker, is a brand that is trying to eat into that EV pie. Here is a classic bull flag as represented by the GoNoGo chart. A "Go" trend is established, and we then saw a red short term counter trend correction arrow that...

GoNoGoCharts

In our Flight Path newsletter this week pre market on Monday morning, we highlighted Bitcoin among other assets as they approached multi year highs.
Bitcoin has continued to test those highs in the last few days extending a run that has seen the cryptocurrency rally from under $11000 at the last “Go” flag to over $19000 as we speak.

Happy Thanksgiving everyone!

GoNoGoCharts

We looked at ACB a little while ago and noted that after a sharp rise, it was trying to find support at the breakaway gap from the 6th of November. It has since consolidated within the bounds of that gap which could now be support and resistance as we go forward. We have been waiting for momentum to show its hand as the GoNoGo Oscillator was riding the zero...

GoNoGoCharts

On Monday in our Flight Path newsletter we highlighted Goldman Sachs. We see outperformance in the financial sector as the market rotates into new leadership. We mentioned that price has consolidated sideways in a range since the crash from the pandemic. While a new “Go” flag had been displayed on November 9th we discussed that there was strong overhead...

GoNoGoCharts

After another strong rally, we see a red counter trend correction arrow above price. This indicates a cooling of positive momentum and suggest that price may struggle to make new gains in the short term.
This has happened over and over again during this incredible run.
With the “Go” trend solidly in place we have seen the low risk entries (Green circles) at the...

GoNoGoCharts

Last week flagged a “Go” trend for the first time since the crash in March on GE. We can also see that current price action has moved above the resistance set by the runaway gap. The GoNoGo Oscillator led this change in trend by breaking above the zero line several bars ago and rallying into positive territory on heavy volume.

GoNoGoCharts

In our Monday pre market newsletter, Flight Path, we highlighted the healthcare sector as showing signs of outperformance. We talked about PFE, MRNA and the less popular NVAX. Novavax is still in its “NoGo” trend, but continues to ride the zero line on the oscillator. We will watch that closely.
Both Pfizer and Moderna saw nice jumps in price after the good...

GoNoGoCharts

After the huge gap up on Friday, GoNoGo Charts signaled a red short term correction arrow at the end of Monday, suggesting that we may pull back for a few bars. We have now seen that pull back as the GoNoGo Trend paints weaker aqua bars, but the “Go” trend remains in place. It is very bullish that while staying in the “Go” trend, price has found support at the...

GoNoGoCharts

The SPX shows a “Shooting Star” candle pattern. The shooting star candle is much like the “Inverted Hammer” but it comes after a move up in price. 
This is a bearish candle for many reasons. - After shooting higher, the bears were able to drive price all the way back below the open, near the low. - Long wicks above the real body in candle charting therefore...

GoNoGoCharts

On Tuesday of this week we looked at Gold. Interestingly, it has broken above the resistance line that we had shown and is now a “Go”. This trend line now should operate as support. This is a fantastic example of polarity where resistance was support that is now support again. The GoNoGo Oscillator has now also broken back above zero supporting the move in price.

GoNoGoCharts

In our Monday morning Flight Path newsletter, we noted that we were bullish on Bitcoin. We analyzed the charts and discussed the strong trend in the digital asset and that investors looking for a lower volatility play could do well to look for an entry on a break out above resistance. Now with Bitcoin trading above $15000 the trend is still a "Go" and the GoNoGo...

GoNoGoCharts

Gold is rallying in the current bar. Does this say anything about the uncertainty in the stock markets? While the markets around the world have rallied today and U.S. futures suggest that the same will happen in America, Gold has painted an amber “Go Fish” bar, suggesting that the blend of technical concepts in the GoNoGo Trend are unable to find a trend. 
At...

GoNoGoCharts

In our weekly Flight Path newsletter this Monday we looked at several stocks reporting earnings this week. One was TSLA, and we noted weakness in the stock shown with an amber "Go Fish" bar. Since then, this weakness has become a "NoGo" trend as we can see in the price panel. The GoNoGo Oscillator has confirmed this price action with a sharp break below the zero line.

GoNoGoCharts

Tupperware Brands Corporation is showing strength amongst the weakness of the general stock markets. After consolidating sideways for a little over a month we saw a break out to the upside yesterday after a new “Go” trend was spotted 3 days ago. This move sent price to a new high and closed above significant resistance of those prior highs. At the same time, the...

GoNoGoCharts

This is a long term weekly GoNoGo Chart of Renault. Interesting few weeks ahead. Note how the “NoGo” trend has bottomed and has formed an ascending triangle with higher lows. Price is nearing the upper bound of the triangle and as it does so has painted amber “Go Fish” bars, meaning that there is no recognizable trend currently. 
The GoNoGo Oscillator is...

GoNoGoCharts

In Monday’s issue of Flight Path, we talked about the relative trends of cryptocurrencies and singled out $BLOK as an etf that could help capture some of the gains associated with digital assets. We noted that it was likely that price would make another attempt at the high of September 2nd if the GoNoGo Oscillator found support at zero. It did, and we are...

GoNoGoCharts

The NoGo outlined the crypto’s correction during the month of September and in early October we saw amber neutral bars signaling the trend may be changing. October 9th triggered the first Go flag and a bar later broke through resistance of the previous consolidation pattern. (Resistance that was support before) Now, we’ve seen a sharp rally and price has taken out...

GoNoGoCharts

After short term counter trend corrections have correctly highlighted both recent tops, we will be looking for a re-entry into the new “Go” trend. This will happen if the GoNoGo Oscillator finds support now at the zero line. Selling shouldn’t be aggressive enough to force the oscillator into negative territory if this “Go” trend is healthy enough to remain in...