{"id":12377,"date":"2024-11-19T00:03:19","date_gmt":"2024-11-19T00:03:19","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/11\/19\/equities-look-for-energy-in-go-trend\/"},"modified":"2024-11-19T00:03:19","modified_gmt":"2024-11-19T00:03:19","slug":"equities-look-for-energy-in-go-trend","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/11\/19\/equities-look-for-energy-in-go-trend\/","title":{"rendered":"Equities Look for \u201cEnergy\u201d in \u201cGo\u201d Trend"},"content":{"rendered":"
\n

Good morning and welcome to this week\u2019s Flight Path. Equities saw the \u201cGo\u201d trend continue this week but we saw weaker aqua bars at the end of the week.\u00a0Treasury bond prices painted strong purple \u201cNoGo\u201d bars as the weight of the evidence suggested the \u201cNoGo\u201d will continue.\u00a0U.S. commodities painted aqua \u201cGo\u201d bars after flirting with amber \u201cGo Fish\u201d bars of uncertainty last week.\u00a0The dollar showed no weakness this week with an uninterrupted string of bright blue \u201cGo\u201d bars.<\/p>\n

$SPY Paints Weaker \u201cGo\u201d Bars after High<\/h4>\n

The GoNoGo chart below shows that after hitting a new higher high on strong blue \u201cGo\u201d bars we saw a Go Countertrend Correction Icon (red arrow) signaling that price may struggle to go higher in the short term.\u00a0Indeed, price fell in the following days, and GoNoGo Trend has painted weaker aqua bars. We will watch to see if price finds support at last month\u2019s high.\u00a0GoNoGo Oscillator also has fallen to test the zero line from above and we will watch to see if it finds support here as well.\u00a0If the oscillator rallies back into positive territory we will look for price to make an attempt at another higher high.<\/p>\n<\/p>\n

A Go Countertrend Correction Icon (red arrow) has showed itself on the weekly chart after last week saw price fall into the end of the week.\u00a0GoNoGo oscillator is in positive territory at a value of 3 and so no longer overbought.\u00a0We will watch to see if it falls toward the zero line from here and if it does we will monitor for signs of support.\u00a0GoNoGo Trend is painting strong blue \u201cGo\u201d bars as momentum remains positive confirming the direction of the trend.<\/p>\n<\/p>\n

Treasury Rates See Continued Strength<\/strong><\/p>\n

Treasury bond yields saw the \u201cGo\u201d trend continue this week and after a couple of weaker aqua bars the indicator showed a return to strength with bright blue bars all week as price rallied to challenge for new highs.\u00a0GoNoGo Oscillator was perhaps responsible for the rally as we saw it bounce of the zero line into positive territory at the beginning of the week.\u00a0Now, with GoNoGo Trend painting strong blue bars the oscillator is in positive territory at a value of 2.<\/p>\n<\/p>\n

The Dollar Remains at Elevated Levels<\/h4>\n

A week of strength propelled price to new highs again this week as GoNoGo Trend painted a string of unbroken bright blue \u201cGo\u201d bars.\u00a0We are seeing a Go Countertrend Correction icon (red arrow) on the current bar as there is some waning momentum finally.\u00a0\u00a0GoNoGo Oscillator has fallen out of overbought territory and is approaching the zero line.\u00a0We will watch to see if it finds support as and when it gets there.\u00a0If it rallies quickly back into positive territory we will see that as a sign of trend continuation for the greenback.<\/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 continue this week but we saw weaker aqua bars at the end of the week.\u00a0Treasury bond prices painted strong purple \u201cNoGo\u201d bars as the weight of the evidence suggested the \u201cNoGo\u201d will continue.\u00a0U.S. commodities painted aqua \u201cGo\u201d bars after flirting with […]<\/p>\n","protected":false},"author":0,"featured_media":12378,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-12377","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\/12377","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=12377"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/12377\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/12378"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=12377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=12377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=12377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}