{"id":4944,"date":"2024-05-29T00:05:56","date_gmt":"2024-05-29T00:05:56","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/05\/29\/equities-remain-in-go-trend-with-sparse-leadership-from-tech-and-utilities\/"},"modified":"2024-05-29T00:05:56","modified_gmt":"2024-05-29T00:05:56","slug":"equities-remain-in-go-trend-with-sparse-leadership-from-tech-and-utilities","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/05\/29\/equities-remain-in-go-trend-with-sparse-leadership-from-tech-and-utilities\/","title":{"rendered":"EQUITIES REMAIN IN \u201cGO\u201d TREND WITH SPARSE LEADERSHIP FROM TECH AND UTILITIES"},"content":{"rendered":"
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Good morning and welcome to this week\u2019s Flight Path. We saw some weakness this week as price pulled back a little from all time highs.\u00a0Momentum cooled, we saw this in the form of Go Countertrend Correction Icons (red arrows) and GoNoGo Trend painted weaker aqua bars.\u00a0Treasury bond prices gained strength and painted blue bars.\u00a0U.S. commodity index continued to show market uncertainty and the dollar regained \u201cGo\u201d colors albeit weaker aqua.<\/p>\n

$SPY Shows Investors Digesting Gains<\/h4>\n

The \u201cGo\u201d remained this week but prices cooled as the market absorbed the gains we\u2019ve seen over the past few weeks.\u00a0As the week of trading came to a close, we saw weakness as GoNoGo Trend painted a couple of aqua bars. We will now turn out eye to the oscillator panel and watch as GoNoGo Oscillator approaches the zero line.\u00a0We will look to see if it finds support at this level and bounces back into positive territory.\u00a0If it does, we will see Go Trend Continuation (green circle) and can expect price to make an attack on a new higher high.<\/p>\n<\/p>\n

The larger weekly chart shows that the larger picture remains extremely bullish with another strong blue bar painted and price at all time highs.\u00a0GoNoGo Oscillator is in positive territory but not yet overbought after having found support at the zero level.<\/p>\n<\/p>\n

Treasury Rates Flash \u201cGo Fish\u201d Bars<\/strong><\/p>\n

GoNoGo Trend was unable to continue painting amber \u201cGo Fish\u201d bars as last week came to an end.\u00a0As prices rallied from the most recent low, the indicator rolled out of \u201cNoGo\u201d colors and painted a couple of uncertain \u201cGo Fish\u201d bars.\u00a0It will be important to note now in which direction the trend goes next.\u00a0If it falls back into \u201cNoGo\u201d bars that could be a positive for stocks, if it transitions from amber to \u201cGo\u201d colors that could pose a problem.\u00a0GoNoGo Oscillator is riding the zero line where we see the beginnings of a GoNoGo Squeeze building.\u00a0The direction of the Squeeze break will likely determine price\u2019s next trend.<\/p>\n<\/p>\n

Dollar Recaptures \u201cGo\u201d Trend<\/h4>\n

After a brief flirtation with a \u201cNoGo\u201d and a \u201cGo Fish\u201d bar, the dollar was able to regain \u201cGo\u201d colors albeit weaker aqua ones.\u00a0This is an inflection point for the dollar, as we can see that GoNoGo Oscillator is back testing the zero line from below.\u00a0The oscillator has been in negative territory for a few weeks now, so if the \u201cGo\u201d trend is to survive, it will need to break back into positive territory.\u00a0If it does, we will likely see the \u201cGo\u201d trend strengthen.\u00a0If it is rejected again at the zero level, then we will expect further struggles for price.<\/p>\n<\/p>\n

The weekly chart continues to show us how important these levels are.\u00a0With price now trying hard to find support at prior high levels from over a year ago, GoNoGo Oscillator has crashed back to the zero line.\u00a0We will watch to see if it finds support here.\u00a0If it does, we will see a Go Trend Continuation Icon (green circle) under the price bar as an oscillator bounce back into positive territory will tell us that momentum is resurgent in the direction of the underlying \u201cGo\u201d trend.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Good morning and welcome to this week\u2019s Flight Path. We saw some weakness this week as price pulled back a little from all time highs.\u00a0Momentum cooled, we saw this in the form of Go Countertrend Correction Icons (red arrows) and GoNoGo Trend painted weaker aqua bars.\u00a0Treasury bond prices gained strength and painted blue bars.\u00a0U.S. commodity […]<\/p>\n","protected":false},"author":0,"featured_media":4945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-4944","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\/4944","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=4944"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/4944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/4945"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=4944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=4944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=4944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}