GoNoGoCharts

GoNoGoCharts

At the beginning of the week, in our “Flight Path” newsletter, we identified commodities, particularly agriculture, as an area of potential opportunity for an investor looking to maintain some asset diversification. Diving into that category we looked at AGCO, and highlighted the low risk entry that was generated by GoNoGo Charts on September 1st. 
Since then, the...

GoNoGoCharts

The market sold off heavily at the end of last week, causing many to panic. When this happens it is important to keep a cool head and use technical analysis to try to understand if what we are seeing is a correction within a trend or something more. The GoNoGo Trend is a blend of robust technical concepts that is color coded to illustrate the strength of a...

GoNoGoCharts

S&P 500 futures are pointing to a lower open and another miserable day for stock market bulls. After recovering to an extent on Friday, the futures suggest that price will fall again today, dropping to support from an upward sloping trend line that has been in place for several months. The GoNoGO Trend is showing price action that is weaker, painting pale blue...

GoNoGoCharts

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...

GoNoGoCharts

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...

GoNoGoCharts

The 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...

GoNoGoCharts

Starbucks is the 5th largest company in the consumer discretionary sector by market cap. Having said that, it has largely missed out on the outperformance of the sector vs the S&P 500 during this rally and is trading significantly below the prior highs of the year. Starbucks flagged a “Go” on August 10th and the trend has remained intact. Recently, we saw a low...

GoNoGoCharts

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...

GoNoGoCharts

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...

GoNoGoCharts

EURUSD consolidates in a range after rallying strongly since the end of May. The GoNoGo Trend is still “Go” but there is a little weakness depicted by the pale blue bars. At the same time, there has been bearish divergence between the GoNoGo Oscillator making lower highs and price barely making a higher high. Right now, the GoNoGo Oscillator is riding the zero...

GoNoGoCharts

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...

GoNoGoCharts

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....

GoNoGoCharts

The 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...

GoNoGoCharts

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...

GoNoGoCharts

The EURUSD is in a strong “Go” trend, having risen sharply since the last “Go” flag in late May.
Since then, the interplay between the GoNoGo Trend and the GoNoGo Oscillator have signaled several low risk entry points with green circles. Most recently we saw one on the 17th of August. After this sign of renewed momentum, we are seeing the pair trying to break...

GoNoGoCharts

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...

GoNoGoCharts

Bullish Trade setup on Southwestern Energy The weekly GoNoGo Trend is a “Go”. See the lower chart. The daily GoNoGo Trend is a “Go” and we see that the most recent bar has caused a low risk entry signal (green circle).
This comes as the GoNoGo Oscillator has tested the zero line from above, finding support. We would look for an initial target at July highs.

GoNoGoCharts

A large gap down breaks the upward sloping trend line, causes the GoNoGo Trend to flag a new color and pushes the GoNoGo Oscillator further into negative territory. The GoNoGo Trend has changed for Cisco Systems, painting an amber, neutral bar, showing us that the “Go” trend has for now, ended.
At the same time, the move has caused the GoNoGo Oscillator to crash...