{"id":4599,"date":"2024-05-21T00:03:09","date_gmt":"2024-05-21T00:03:09","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/05\/21\/equities-hit-all-time-highs-as-technology-joins-leadership-groups\/"},"modified":"2024-05-21T00:03:09","modified_gmt":"2024-05-21T00:03:09","slug":"equities-hit-all-time-highs-as-technology-joins-leadership-groups","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/05\/21\/equities-hit-all-time-highs-as-technology-joins-leadership-groups\/","title":{"rendered":"EQUITIES HIT ALL TIME HIGHS AS TECHNOLOGY JOINS LEADERSHIP GROUPS"},"content":{"rendered":"
\n

Good morning and welcome to this week\u2019s Flight Path. The \u201cGo\u201d trend in equities is well and truly back as we saw a string of uninterrupted blue bars this week and price hit a new all time high. Treasury bond prices entered a weak \u201cGo\u201d trend which is perhaps bad news for rates as we\u2019ll see in a moment due to the inverse relationship.\u00a0The U.S. commodity index continued to show market uncertainty as it ended the week with another amber \u201cGo Fish\u201d bar. The dollar maintained its \u201cGo\u201d trend but we saw some weakness as this week GoNoGo Trend painted a majority of aqua bars.<\/p>\n

$SPY Hits New All Time Highs<\/h4>\n

The \u201cGo\u201d trend we spied last week really took off this week as we saw a week of uninterrupted strong blue bars and price high all time highs midweek. GoNoGo Oscillator fell out of overbought territory and that caused a Go Countertrend Correction Icon to appear on the chart which tells us price may struggle to go higher in the short term.\u00a0Now at a value of 4, momentum is positive and in the direction of the underlying \u201cGo\u201d trend.\u00a0We will look for price to find support and consolidate above prior highs.<\/p>\n<\/p>\n

The larger weekly chart shows that after several weeks of pullback, coming after the Go Countertrend Correction Icon that we saw over a month ago, the trend has once again strengthened as GoNoGo Trend once again paints strong blue bars.\u00a0GoNoGo Oscillator bounced sharply off the zero line which helped confirm the \u201cGo\u201d trend and with momentum resurgent in the direction of the \u201cGo\u201d trend we saw price hit a new high this week.<\/p>\n<\/p>\n

Rates Enter \u201cNoGo\u201d<\/strong><\/p>\n

GoNoGo Trend saw the weakness we noted last week turn into a new \u201cNoGo\u201d trend.\u00a0After GoNoGo oscillator entered negative territory a couple of weeks ago we could infer that the \u201cGo\u201d trend was no longer healthy.\u00a0After a long run of weaker aqua \u201cGo\u201d bars we saw the trend give way this week and a mix of pink and purple \u201cNoGo\u201d bars. Now, with GoNoGo Oscillator approaching the zero line from below, we will watch to see if this trend can hold.<\/p>\n<\/p>\n

Dollar Remains in \u201cGo\u201d but Struggles<\/h4>\n

The\u201dGo\u201d trend remained in place this week but we saw a majority of weaker aqua bars as price made a new lower low.\u00a0GoNoGo Oscillator has been rejected by the zero line twice since first crossing into negative territory and now is steadily falling.\u00a0This is a concern for the \u201cGo\u201d trend in this periodicity and we will watch to see if this week brings a change in technical environment.<\/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 is well and truly back as we saw a string of uninterrupted blue bars this week and price hit a new all time high. Treasury bond prices entered a weak \u201cGo\u201d trend which is perhaps bad news for rates as we\u2019ll […]<\/p>\n","protected":false},"author":0,"featured_media":4600,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-4599","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\/4599","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=4599"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/4599\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/4600"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=4599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=4599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=4599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}