{"id":13045,"date":"2024-12-10T00:01:09","date_gmt":"2024-12-10T00:01:09","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/12\/10\/equities-remain-in-strong-go-trend-as-tech-returns-to-leadership\/"},"modified":"2024-12-10T00:01:09","modified_gmt":"2024-12-10T00:01:09","slug":"equities-remain-in-strong-go-trend-as-tech-returns-to-leadership","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/12\/10\/equities-remain-in-strong-go-trend-as-tech-returns-to-leadership\/","title":{"rendered":"Equities Remain in Strong \u201cGo\u201d Trend as Tech Returns to Leadership"},"content":{"rendered":"
\n

Good morning and welcome to this week\u2019s Flight Path. The \u201cGo\u201d trend in equities continued again this past week and we saw a full week of uninterrupted bright blue bars.\u00a0Treasury bond prices painted \u201cGo\u201d bars and the week ended with strong blue bars.\u00a0U.S. commodities also remained in a \u201cGo\u201d trend with the indicator painting strong blue bars.\u00a0The dollar likewise was able to hold on to its trend but we saw a string of weaker aqua \u201cGo\u201d bars this week.<\/p>\n

$SPY Sees Another Strong week of \u201cGo\u201d bars<\/h4>\n

The GoNoGo chart below shows that price continued to rally this week as the indicator painted nothing but strong blue \u201cGo\u201d bars again.\u00a0We do see a Go Countertrend Correction Icon (red arrow) at the most recent high which warns us that price may struggle to go higher in the short term.\u00a0We see that GoNoGo Oscillator has fallen out of overbought territory and is now resting at a value of 4.\u00a0There is still therefore strong momentum that is confirming the underlying \u201cGo\u201d trend.<\/p>\n<\/p>\n

On the longer term chart, the trend continues to be strong.\u00a0Last week saw another higher weekly close albeit on a smaller bar.\u00a0We will watch to see if price can edge higher again this week.\u00a0The oscillator panel shows that momentum has been able to remain positive for several months now.\u00a0It is currently at a value of 5.\u00a0If momentum wanes, we will look to see if it finds support at the zero level again.<\/p>\n<\/p>\n

Treasury Rates Fall out of the \u201cGo\u201d Trend<\/strong><\/p>\n

Treasury bond yields completed the transition from a weaker \u201cGo\u201d to strong \u201cNoGo\u201d bars this week.\u00a0With a couple of amber \u201cGo Fish\u201d bars that expressed uncertainty we can see that the \u201cNoGo\u201d took hold first with a pink bar.\u00a0This came after GoNoGo Oscillator suggested as much when it failed to find support at the zero line just over a week ago.\u00a0Now we see that momentum is negative at a value of -3 and confirms the new \u201cNoGo\u201d trend in price.<\/p>\n<\/p>\n

The Dollar Still Rests in \u201cGo\u201d Trend<\/h4>\n

We saw the dollar spend another week moving sideways this week and GoNoGo Trend painted a string of weaker aqua \u201cGo\u201d bars.\u00a0\u00a0We turn our eye to the lower panel and we can see that GoNoGo Oscillator has failed to find support at zero after having been stuck there for several bars.\u00a0The Oscillator has now broken out of a GoNoGo Squeeze into negative territory which tells us that momentum is out of line with the \u201cGo\u201d trend.\u00a0We will watch to see if this leads to further price deterioration.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Good morning and welcome to this week\u2019s Flight Path. The \u201cGo\u201d trend in equities continued again this past week and we saw a full week of uninterrupted bright blue bars.\u00a0Treasury bond prices painted \u201cGo\u201d bars and the week ended with strong blue bars.\u00a0U.S. commodities also remained in a \u201cGo\u201d trend with the indicator painting strong […]<\/p>\n","protected":false},"author":0,"featured_media":13046,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-13045","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\/13045","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=13045"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/13045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/13046"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=13045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=13045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=13045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}