{"id":5387,"date":"2024-06-18T00:02:42","date_gmt":"2024-06-18T00:02:42","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/06\/18\/equities-hit-all-time-highs-again-with-technology-in-the-driving-seat\/"},"modified":"2024-06-18T00:02:42","modified_gmt":"2024-06-18T00:02:42","slug":"equities-hit-all-time-highs-again-with-technology-in-the-driving-seat","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/06\/18\/equities-hit-all-time-highs-again-with-technology-in-the-driving-seat\/","title":{"rendered":"EQUITIES HIT ALL TIME HIGHS AGAIN WITH TECHNOLOGY IN THE DRIVING SEAT"},"content":{"rendered":"
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Good morning and welcome to this week\u2019s Flight Path. Equities remained very strong this week as we saw a continued string of bright blue bars and a new price high.\u00a0Treasury bond prices saw a surge in strength in the second half of the week as we see a return to bright blue bars.\u00a0Commodities try to convince us that this time they\u2019ve made up their mind and entered a \u201cGo\u201d trend on strong blue bars.\u00a0Finally the dollar, after some uncertainty this week, closed with a strong blue \u201cGo\u201d bar as well.<\/p>\n

$SPY Paints Strong Blue \u201cGo\u201d Bars at All Time Highs ( No Change this week!)<\/h4>\n

Not only did we see the \u201cGo\u201d trend continue this week but we saw price gap higher mid week and nothing but strength with GoNoGo Trend painting strong blue bars.\u00a0When we turn our eye to the oscillator panel, we see that momentum is coming off an extreme of overbought.\u00a0At a value of 5 but falling, we may well see a Go Countertrend Correction Icon (red arrow) appear above price informing us that it may struggle to go higher in the short term.\u00a0We will pay attention to this and look to see if support is found at the gap.<\/p>\n<\/p>\n

The larger weekly chart shows that the \u201cGo\u201d trend remained very strong this week as we see a strong blue bar setting another higher weekly close.\u00a0\u00a0GoNoGo Oscillator has climbed to its max of 6.\u00a0We will watch closely to see if this market enthusiasm can be maintained or if there is any waning of momentum which would cause a Go Countertrend Correction icon to appear on the chart above price.<\/p>\n<\/p>\n

Treasury Rates Set new Lower Low in \u201cNoGo\u201d Trend<\/strong><\/p>\n

After a brief relief rally that set a new lower high, we saw price fall through the second half of the week.\u00a0GoNoGo Trend returned to paint more strong purple \u201cNoGo\u201d bars and price made a new lower low.\u00a0We were alerted to this trend continuation mid week as GoNoGo Oscillator rose to test the zero line from below and was turned away.\u00a0Now, with the \u201cNoGo\u201d firmly in place, we see that momentum is resurgent in the direction of the underlying trend.\u00a0The oscillator is at a value of -3, not yet oversold.<\/p>\n<\/p>\n

Dollar Makes a Move after Uncertainty<\/h4>\n

After a few \u201cGo Fish\u201d bars, amber bars that reflect market uncertainty, we saw the dollar paint a couple of aqua bars this week before a strong blue \u201cGo\u201d bar was painted on Friday.\u00a0Thursday\u2019s \u201cGo\u201d bar was impressive, with its trading range completely engulfing that of the day before.\u00a0This is known as a bullish engulfing pattern, and suggests higher price moves over the near term.\u00a0Friday\u2019s gap higher is above prior high levels and it will be important to note if we can consolidate at these levels.\u00a0GoNoGo Oscillator is in positive territory on heavy volume after bouncing off the zero line.<\/p>\n<\/p>\n

The weekly chart shows a return to strength this week.\u00a0GoNoGo Trend painted a strong blue \u201cGo\u201d bar as price challenges prior highs.\u00a0GoNoGo Oscillator bounced off the zero line last week giving us signs of Go Trend Continuation (green circle).\u00a0Now, momentum is positive and moving higher at a value of 3.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Good morning and welcome to this week\u2019s Flight Path. Equities remained very strong this week as we saw a continued string of bright blue bars and a new price high.\u00a0Treasury bond prices saw a surge in strength in the second half of the week as we see a return to bright blue bars.\u00a0Commodities try to […]<\/p>\n","protected":false},"author":0,"featured_media":5388,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5387","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\/5387","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=5387"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5387\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/5388"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=5387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=5387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=5387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}