{"id":12124,"date":"2024-11-12T00:02:29","date_gmt":"2024-11-12T00:02:29","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/11\/12\/equity-go-trend-sees-surge-in-strength-as-financials-drive-price-higher\/"},"modified":"2024-11-12T00:02:29","modified_gmt":"2024-11-12T00:02:29","slug":"equity-go-trend-sees-surge-in-strength-as-financials-drive-price-higher","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/11\/12\/equity-go-trend-sees-surge-in-strength-as-financials-drive-price-higher\/","title":{"rendered":"Equity \u201cGo\u201d Trend Sees Surge in Strength as Financials Drive Price Higher"},"content":{"rendered":"
\n

Good morning and welcome to this week\u2019s Flight Path. Equities saw the \u201cGo\u201d trend continued this\u00a0week and price gapped higher after some weaker aqua bars.\u00a0We now see GoNoGo Trend painting strong blue bars at new highs.\u00a0Treasury bond prices remained in a \u201cNoGo\u201d trend but the week ended with a weaker pink bar. The U.S. commodities index saw a strong end to the week as bright blue \u201cGo\u201d bars returned and the dollar likewise saw strength with strong blue \u201cGo\u201d bars the second half of the week.<\/p>\n

$SPY Gaps Higher on Strong Blue \u201cGo\u201d Bars<\/h4>\n

The GoNoGo chart below shows that after some weakness that saw price fall from the last Go Countertrend Correction Icon (red arrow), price gapped higher on Wednesday and prices soared to new highs in the aftermath of the election.\u00a0GoNoGo Oscillator was able to recover positive territory after having fallen into negative territory the week before.\u00a0Now, with the oscillator in positive territory at a value 4 on heavy volume, we know that momentum is on the side of the \u201cGo\u201d trend once again.<\/p>\n<\/p>\n

A new higher weekly close was painted on the chart this past week.\u00a0After a couple of consecutive lower closes after the recent Go Countertrend Correction Icon (red arrow), we saw price surge to a new higher close.\u00a0GoNoGo Oscillator had been falling toward the zero level but reversed course sharply this week and is now breaching overbought territory at a value of 5.\u00a0We will see how much higher price can go from here.\u00a0We will look for it to at least consolidate at these levels going forward.<\/p>\n<\/p>\n

Treasury Rates Cool after Higher High<\/strong><\/p>\n

Treasury bond yields saw the \u201cGo\u201d trend continue this week but we saw a little weakness creep in with GoNoGo Trend painting an aqua bar.\u00a0This comes after we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term.\u00a0We will watch to see if price finds support here and sets a new higher low.\u00a0GoNoGo Oscillator has fallen to test the zero line from above and we know that if the \u201cGo\u201d trend is to remain healthy it should find support at that level.\u00a0If it can rally back into positive territory then we will know that momentum is resurgent in the direction of the underlying \u201cGo\u201d trend.<\/p>\n<\/p>\n

The Dollar Jumps Higher<\/h4>\n

Last week we saw some weakness in the \u201cGo\u201d trend as the indicator painted a string of weaker aqua bars following a Go Countertrend Correction Icon (red arrow).\u00a0This Icon warned us that price may struggle to go higher in the short term.\u00a0As price fell from its most recent high, we turned our attention to the oscillator panel.\u00a0GoNoGo Oscillator fell to test the zero level and quickly found support as volume increased (darker blue of oscillator line).\u00a0Now, with price making new higher highs and GoNoGo Trend once again painting strong blue bars we know that momentum is resurgent in the direction of the \u201cGo\u201d trend.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Good morning and welcome to this week\u2019s Flight Path. Equities saw the \u201cGo\u201d trend continued this\u00a0week and price gapped higher after some weaker aqua bars.\u00a0We now see GoNoGo Trend painting strong blue bars at new highs.\u00a0Treasury bond prices remained in a \u201cNoGo\u201d trend but the week ended with a weaker pink bar. The U.S. commodities […]<\/p>\n","protected":false},"author":0,"featured_media":12125,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-12124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/12124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=12124"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/12124\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/12125"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=12124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=12124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=12124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}