{"id":4302,"date":"2024-05-14T00:04:23","date_gmt":"2024-05-14T00:04:23","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/05\/14\/spy-flags-new-go-trend-in-the-face-of-defensive-strength\/"},"modified":"2024-05-14T00:04:23","modified_gmt":"2024-05-14T00:04:23","slug":"spy-flags-new-go-trend-in-the-face-of-defensive-strength","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/05\/14\/spy-flags-new-go-trend-in-the-face-of-defensive-strength\/","title":{"rendered":"$SPY FLAGS NEW \u201cGO\u201d TREND IN THE FACE OF DEFENSIVE STRENGTH"},"content":{"rendered":"<div>\n<p>Good morning and welcome to this week\u2019s Flight Path. We saw some resolution of the uncertainty in the markets this past week.\u00a0Equities came out of a string of amber \u201cGo Fish\u201d bars to paint an aqua \u201cGo\u201d bar on Friday.\u00a0The $SPY is a \u201cGo\u201d.\u00a0However, as we\u2019ll see, there remain some concerns over the strength of this move off the lows. Treasury bond prices remained in a \u201cNoGo\u201d but painted another complete week of weaker pink bars. The U.S. commodity index was unable to trend, as we saw amber \u201cGo Fish\u201d bars dominate again this week.\u00a0The dollar remained in its \u201cGo\u201d trend and we saw some strength later in the week as blue bars returned.<\/p>\n<\/p>\n<h4>$SPY Enters a \u201cGo\u201d Trend<\/h4>\n<p>After a week of amber \u201cGo Fish\u201d bars representing uncertainty, we saw a fresh \u201cGo\u201d trend emerge on the last day of the week as GoNoGo Trend painted an aqua bar.\u00a0This is the first of the \u201cGo\u201d colors, so we will want to see stronger blue bars follow.\u00a0This came after GoNoGo Oscillator broke out of a Max GoNoGo Squeeze into positive territory. This leading indication of positive momentum was a good sign as it told us that momentum was no longer on the side of the prior \u201cNoGo\u201d trend.<\/p>\n<\/p>\n<p>The larger weekly chart is very positive.\u00a0After a period of weaker aqua \u201cGo\u201d bars that followed the Go Countertrend Correction Icon (red arrow) we have seen a blue \u201cGo\u201d bar return.\u00a0This coincides with GoNoGO Oscillator finding support at the zero line.\u00a0We now can say that momentum is resurgent in the direction of the \u201cGo\u201d trend.\u00a0The green circle we see on the chart is a Go Trend Continuation Icon, visually informing us that momentum is confirming the underlying \u201cGo\u201d trend.\u00a0We will look for price to make an attempt at a new higher high over the next few weeks.<\/p>\n<\/p>\n<p><strong>Rates Stabilize at Lower Levels<\/strong><\/p>\n<p>GoNoGo Trend painted another week of aqua \u201cGo\u201d bars.\u00a0This tells us that the trend remains in place but we are seeing continued weakness.\u00a0Price seemed to consolidate last week with not much movement higher or lower.\u00a0This is after a drop that was preceded by GoNoGo Oscillator failing to find support at the zero level.\u00a0GoNoGo Oscillator is now in negative territory but not yet oversold.\u00a0This negative momentum is out of step for the \u201cGo\u201d trend and so we have some concerns about the health of the \u201cGo\u201d trend.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Good morning and welcome to this week\u2019s Flight Path. We saw some resolution of the uncertainty in the markets this past week.\u00a0Equities came out of a string of amber \u201cGo Fish\u201d bars to paint an aqua \u201cGo\u201d bar on Friday.\u00a0The $SPY is a \u201cGo\u201d.\u00a0However, as we\u2019ll see, there remain some concerns over the strength of [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":4303,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-4302","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\/4302","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=4302"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/4302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/4303"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=4302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=4302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=4302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}