{"id":3302,"date":"2024-04-19T00:04:28","date_gmt":"2024-04-19T00:04:28","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/04\/19\/rocks-over-stocks-gonogo-show-041824\/"},"modified":"2024-04-19T00:04:28","modified_gmt":"2024-04-19T00:04:28","slug":"rocks-over-stocks-gonogo-show-041824","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/04\/19\/rocks-over-stocks-gonogo-show-041824\/","title":{"rendered":"Rocks over Stocks | GoNoGo Show 041824"},"content":{"rendered":"<div>\n<p>The S&amp;P500 trend conditions have reversed into \u201cNoGo\u201d and strengthened to purple bars. Alex Cole and Tyler Wood, CMT identify intermarket forces including rising rates ($TNX) and a strong US Dollar (UUP) that can provide headwinds to risk assets. A strong \u201cGo\u201d trend in the volatility index ($VIX), though still hovering around 20 also correlates to the new risk off characteristics on this environment. <\/p>\n<\/p>\n<p>This week we again take a closer look at GoNoGo Trend\u00ae conditions across a diverse array of the commodities markets including precious and industrial metals ($GOLD, $COPPER), softs ($COCOA, $COFFEE) and energy ($OIL) all trending in \u201cGo\u201d conditions and outperforming US equities ($SPY) on a relative basis. To express this thesis, Alex and Tyler look at a few equities that stand to benefit from these trends including: Freeport McMoran (FCX), Harmony Mining Inc (HMY) and Marathon Oil (MRO).<\/p>\n<\/p>\n<p>The rotation of market leadership into cyclical sectors held up this week as shown in the GoNoGo Sector RelMap\u00ae. Energy ($XLE), industrials ($XLI), and materials ($XLB) maintain their trend of outperformance against the S&amp;P 500 index. Interestingly, Communications ($XLC) and Utilities ($XLU) have also joined the leadership group. Alex and Tyler dig deeper into the industry group level within the materials sector (XLB) to see aluminum, non-ferrous metals, and mining groups leading relative outperformance. On an absolute basis, materials have corrected to neutral amber bars as the GoNoGo Oscillator\u00ae rests at zero. Finally, Alex and Tyler review a similar risk-off condition in the cryptocurrency space as Bitcoin ($BTCUSD) reverses to \u201cNoGo\u201d trend conditions and what to watch for next in terms of trend continuation and opportunities to enter on pullbacks.<\/p>\n<p>Follow: https:\/\/twitter.com\/ChartsGonogo<\/p>\n<p>Connect: https:\/\/www.linkedin.com\/company\/gonogo-charts-llc<\/p>\n<p>Learn More: https:\/\/www.gonogocharts.com\/<\/p>\n<p><span class=\"image-caption\">Rocks over Stocks | GoNoGo Show April 18, 2024<\/span><\/p>\n<div class=\"embed-responsive embed-responsive-16by9\"><\/div>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The S&amp;P500 trend conditions have reversed into \u201cNoGo\u201d and strengthened to purple bars. Alex Cole and Tyler Wood, CMT identify intermarket forces including rising rates ($TNX) and a strong US Dollar (UUP) that can provide headwinds to risk assets. A strong \u201cGo\u201d trend in the volatility index ($VIX), though still hovering around 20 also correlates [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":3303,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-3302","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\/3302","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=3302"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/3302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/3303"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=3302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=3302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=3302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}