{"id":5183,"date":"2024-06-04T00:05:32","date_gmt":"2024-06-04T00:05:32","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/06\/04\/utilities-trying-to-power-up-equity-markets\/"},"modified":"2024-06-04T00:05:32","modified_gmt":"2024-06-04T00:05:32","slug":"utilities-trying-to-power-up-equity-markets","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/06\/04\/utilities-trying-to-power-up-equity-markets\/","title":{"rendered":"UTILITIES TRYING TO \u201cPOWER\u201d UP EQUITY MARKETS"},"content":{"rendered":"
\n

Good morning and welcome to this week\u2019s Flight Path. We saw continued weakness this week in U.S. equities although there was a big rebound on Friday\u2019s bar.\u00a0Treasury bond prices entered a period of uncertainty as we see GoNoGo Trend paint successive amber \u201cGo Fish\u201d bars. The U.S. commodities index flipped back to a weak \u201cNoGo\u201d as the dollar was able to manage to paint more weaker aqua \u201cGo\u201d bars.<\/p>\n<\/p>\n

$SPY Tries to Halt Fall<\/h4>\n

After the Go Countertrend Correction Icons we saw over a week ago, price has struggled and that was understandable as those icons tell us that momentum has waned.\u00a0We will watch now to see if price can set a new higher low which would suggest the \u201cGo\u201d trend will continue for now.\u00a0Friday\u2019s bar was positive in that regard. We turn our eye to the oscillator panel and we see that the price action has caused GoNoGo Oscillator to fall to test the zero line from above.\u00a0As it stays there, we see the beginning of a GoNoGo Squeeze.\u00a0If this level can hold as support and the oscillator can rally back into positive territory then we will see signs of Go Trend Continuation and can expect price to make an attack on the most recent high.<\/p>\n<\/p>\n

The larger weekly chart shows that we have set what looks to be a slightly higher high and that GoNoGo Trend is still painting strong blue \u201cGo\u201d bars.\u00a0GoNoGo Oscillator is in positive territory at a value of 3 and is not yet overbought.\u00a0Perhaps this suggests there is further room to run over this time frame.<\/p>\n<\/p>\n

Treasury Rates in Period of Uncertainty<\/strong><\/p>\n

GoNoGo Trend painted a string of amber \u201cGo Fish\u201d bars last week.\u00a0An entire week of \u201cGo Fish\u201d bars is somewhat unusual and so we know that there are not enough criteria being met for GoNoGo Trend to be able to identify a trend in either direction. As the market makes up its mind regarding price direction, we can see that GoNoGo Oscillator is in positive territory having been able to break above the zero line.\u00a0With positive momentum, it is perhaps more likely that we will see a \u201cGo\u201d trend emerge in the panel above.<\/p>\n<\/p>\n

Dollar Shows Continued Weakness in \u201cGo\u201d Trend<\/h4>\n

This week we saw more weakness after a single amber \u201cGo Fish\u201d bar.\u00a0We can see that price has struggled to go anywhere now for several weeks and it has been some time since we last saw a strong blue \u201cGo\u201d bar.\u00a0When we look at the oscillator panel, we can see that there is a tug of war happening between buyers and sellers at this level.\u00a0GoNoGo Oscillator is riding the zero line and we see a Max GoNoGo Squeeze.\u00a0It will be important to watch for the direction of the Squeeze break to help determine price\u2019s next direction.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Good morning and welcome to this week\u2019s Flight Path. We saw continued weakness this week in U.S. equities although there was a big rebound on Friday\u2019s bar.\u00a0Treasury bond prices entered a period of uncertainty as we see GoNoGo Trend paint successive amber \u201cGo Fish\u201d bars. The U.S. commodities index flipped back to a weak \u201cNoGo\u201d […]<\/p>\n","protected":false},"author":0,"featured_media":5184,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5183","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\/5183","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=5183"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5183\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/5184"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=5183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=5183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=5183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}