GoNoGoCharts

GoNoGoCharts

After a strong correction that amounted to around a 10% drop, Gold seems to have found some support. Although the GoNoGo Trend is still a “Go”, the correction has caused the indicator to paint paler blue bars, indicating weakness. Importantly, the GoNoGo Oscillator has crashed to the zero line. There has been strong positive momentum during this most recent...

GoNoGoCharts

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...

GoNoGoCharts

“Go” flag on American Airlines! The current bar of GoNoGo Trend has painted a Go flag. If this holds for the day that would represent a trend change. However, be prepared for a pullback in the near time and look for a consolidation at this level for there to be a further rally. This is because the GoNoGo Oscillator is overbought as the color changes above. ...

GoNoGoCharts

After a rise of over 75% since the beginning of the last “Go” trend we are seeing longterm, significant divergence with the GoNoGo Oscillator. Price has continued to rise, making higher highs and higher lows, but the GoNoGo Oscillator has been making consistently lower highs since the 22nd of June. Currently, the oscillator is resting at the zero line which...

GoNoGoCharts

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...

GoNoGoCharts

GoNoGo 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...

GoNoGoCharts

The GoNoGo Chart of Caterpillar Inc, is an interesting one. The trend is a “Go”, but is experiencing some signs of weakness. Having failed at resistance around $140, the GoNoGo Trend is painting the paler bars of a slightly less *bullish environment. In the GoNoGo Oscillator panel, we see that there has been *bearish divergence and that now the oscillator is...

GoNoGoCharts

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...

GoNoGoCharts

NoGo trend has been identified on the Daily GoNoGo Chart. For the first time since April 28th the GoNoGo Trend indicator has been unable to maintain *bullish blue bars. This change in the price environment comes as the GoNoGo Oscillator crashes through the zero line which shows that momentum has also turned *bearish. There could be support just below current...

GoNoGoCharts

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...

GoNoGoCharts

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...

GoNoGoCharts

Having 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...

GoNoGoCharts

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...

GoNoGoCharts

The 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...

GoNoGoCharts

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...

GoNoGoCharts

GoNoGo 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...

GoNoGoCharts

The U.S. Dollar Index has been in a free fall since the beginning of July. Above is a 4hr GoNoGo Chart showing the “NoGo” trend highlighted with the purple and pink bars. Along the way, each time the GoNoGo oscillator has been rejected from below by the zero line, we have been given low risk entry points into the “NoGo” trend (Red circles). The GoNoGo Oscillator...

GoNoGoCharts

Let’s look at this chart and see how we can use traditional technical analysis while the GoNoGo Charts highlight all that we need to know in terms of trend and momentum. The technical analysis we need to get a complete picture of the security’s price action is blended into the GoNoGo chart leaving the price action unobscured. So what do we see? After a strong...