{"id":3300,"date":"2024-04-19T00:04:31","date_gmt":"2024-04-19T00:04:31","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/04\/19\/equity-markets-struggle-to-hold-onto-go-trend-as-industrials-try-to-lead-apr-15-2024\/"},"modified":"2024-04-19T00:04:31","modified_gmt":"2024-04-19T00:04:31","slug":"equity-markets-struggle-to-hold-onto-go-trend-as-industrials-try-to-lead-apr-15-2024","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/04\/19\/equity-markets-struggle-to-hold-onto-go-trend-as-industrials-try-to-lead-apr-15-2024\/","title":{"rendered":"Equity Markets Struggle to Hold onto \u201cGo\u201d trend as Industrials Try to Lead | Apr 15 2024"},"content":{"rendered":"
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Good morning and welcome to this week\u2019s Flight Path.\u00a0The equity \u201cGo\u201d trend continued this week but we saw some weakness as GoNoGo Trend paints a string of weaker aqua bars to close out the week.\u00a0We haven\u2019t seen a new high in a few weeks and so we will watch this week to see if the \u201cGo\u201d trend can hold.\u00a0Treasury bond prices maintained the \u201cNoGo\u201d strength that we spotted last week as we saw a string of uninterrupted dark purple bars.\u00a0The commodity index continued to shows strength this week as blue \u201cGo\u201d bars reigned supreme.\u00a0The dollar also had a very strong week as it regained bright blue bars and hit new highs.<\/p>\n<\/p>\n

Equities Hanging on by a Thread to \u201cGo\u201d Trend<\/h4>\n

Since the last Go Countertrend Correction Icon (red arrow) have seen price struggle to go higher.\u00a0Indeed, we have fallen from those highs and started to paint a more weaker aqua bars of late.\u00a0This is the strongest threat to the \u201cGo\u201d trend we have seen in several months.\u00a0GoNoGo Oscillator fell to the zero line and it has struggled to regain positive territory.\u00a0In fact, we have seen it dip into negative territory and even a quick retest of that level.\u00a0The oscillator was turned away by zero back into negative territory which means that momentum is out of step with the \u201cGo\u201d trend.\u00a0We will want to see the oscillator regain positive territory if the \u201cGo\u201d trend is to survive.<\/p>\n<\/p>\n

We see a first crack in the armor of the weekly \u201cGo\u201d trend.\u00a0Another lower close was painted a weaker aqua color by GoNoGo Trend.\u00a0As GoNoGo Oscillator falls from overbought territory we see a Go Countertrend Correction Icon (red arrow) telling us that price may struggle to go higher in the short term.\u00a0If we turn our eye to the lower panel we can see that GoNoGo Oscillator is falling sharply.\u00a0We will watch closely as the oscillator approaches the zero line.\u00a0We will need to see the oscillator find support at that level as we know that in a healthy \u201cGo\u201d trend the oscillator should stay at or above zero.<\/p>\n<\/p>\n

Rates Set Another Higher High<\/strong><\/p>\n

A week of uninterrupted strong blue \u201cGo\u201d bars sees price set another higher high this week on the daily chart of U.S. treasury rates.\u00a0We do see a Go Countertrend Correction Icon (red arrow) which indicates price may struggle in the short term to go higher.\u00a0Perhaps a pause then, as GoNoGo Oscillator turns around and heads for the zero line.\u00a0As price momentum cools, and price falls from its recent high, we will watch to see if the oscillator finds support as it drops to the zero line.<\/p>\n<\/p>\n

Dollar Soars this Week as Price Jumps to New Highs<\/h4>\n

What a bounce for the dollar in the second half of the week.\u00a0It was no surprise that price pulled back after the Go Countertrend Correction Icon (red arrow) and so as we identified a little trend weakness due to the aqua \u201cGo\u201d bars.\u00a0It was then important to watch the oscillator panel as it tested the zero line on heavy volume (darker blue oscillator line).\u00a0Quickly finding support, it rallied back into positive territory and that gave price the push it needed to gap higher twice in 3 days and cement new highs.<\/p>\n<\/p>\n

The longer term chart shows that we have clearly broken above a strong resistance level that has been on the chart since October of 2023.\u00a0With open skies ahead, and momentum surging in the direction of the \u201cGo\u201d trend we will look for price to consolidate at these levels and potentially move higher.\u00a0GoNoGo Trend is painting strong blue \u201cGo\u201d bars for a 4th consecutive week.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Good morning and welcome to this week\u2019s Flight Path.\u00a0The equity \u201cGo\u201d trend continued this week but we saw some weakness as GoNoGo Trend paints a string of weaker aqua bars to close out the week.\u00a0We haven\u2019t seen a new high in a few weeks and so we will watch this week to see if the […]<\/p>\n","protected":false},"author":0,"featured_media":3301,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-3300","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\/3300","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=3300"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/3300\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/3301"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=3300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=3300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=3300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}