{"id":5503,"date":"2024-06-25T00:06:35","date_gmt":"2024-06-25T00:06:35","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/06\/25\/technology-again-provides-only-spark-for-markets\/"},"modified":"2024-06-25T00:06:35","modified_gmt":"2024-06-25T00:06:35","slug":"technology-again-provides-only-spark-for-markets","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/06\/25\/technology-again-provides-only-spark-for-markets\/","title":{"rendered":"TECHNOLOGY AGAIN PROVIDES ONLY SPARK FOR MARKETS"},"content":{"rendered":"
\n

Good morning and welcome to this week\u2019s Flight Path. We saw another strong week of blue \u201cGo\u201d bars for the equity index.\u00a0Treasury bond prices also maintained strong blue \u201cGo\u201d colors for the entire week.\u00a0U.S. commodities almost did the same, but the week ended with a weaker aqua bar. The dollar found its feet again this week with a string of strong blue \u201cGo\u201d bars also.<\/p>\n

$SPY Paints Another Week of Strong Blue \u201cGo\u201d Bars<\/h4>\n

Price hit another higher high this week as GoNoGo Trend painted a string of strong blue \u201cGo\u201d bars. When turning our attention to the oscillator panel we see that it has remained overbought this week moving between values of 5 and 6.\u00a0Volume is heavy with prices at these levels.\u00a0we will watch to see if the oscillator falls out of the overbought range in the upcoming days.\u00a0If it does, we will see a Go Countertrend Correction Icon (red arrow) above price indicating that it may be a struggle for price to go higher in the short term.<\/p>\n<\/p>\n

Another week another higher high! A 7th consecutive bright blue bar on the weekly chart as price continues higher. GoNoGo Oscillator has climbed into overbought territory at a value of 6.\u00a0We will watch to see if it stays overbought or if it falls back toward neutral territory.<\/p>\n<\/p>\n

Treasury Rates Continue to Paint \u201cNoGo\u201d Bars<\/strong><\/p>\n

After a new low at the beginning of the week we saw strong purple \u201cNoGo\u201d bars as price consolidated and moved mostly sideways.\u00a0GoNoGo Oscillator during this week stayed in negative territory but is not yet oversold and in fact turned up on the final bar of the week.\u00a0With momentum in negative territory we can say that it is confirming the direction of the underlying \u201cNoGo\u201d trend.<\/p>\n<\/p>\n

Dollar Consolidates New \u201cGo\u201d Trend<\/h4>\n

Last week we saw a bullish engulfing pattern end the week on a fresh aqua \u201cGo\u201d bar with price again making a new higher high this week on strong blue bars.\u00a0This comes as GoNoGo Oscillator appears to have solidified its position in positive territory and is moving further into positive territory at a value of 3.<\/p>\n<\/p>\n

The weekly chart shows continued strength with the latest bar painted strong blue and price at a new slightly higher high.\u00a0We can see that price is now staying above highs from earlier in the chart.\u00a0GoNoGo Oscillator has bounced off the zero line and is back in positive territory.\u00a0With momentum rising and in the direction of the underlying trend we will look to see if price can go higher still.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Good morning and welcome to this week\u2019s Flight Path. We saw another strong week of blue \u201cGo\u201d bars for the equity index.\u00a0Treasury bond prices also maintained strong blue \u201cGo\u201d colors for the entire week.\u00a0U.S. commodities almost did the same, but the week ended with a weaker aqua bar. The dollar found its feet again this […]<\/p>\n","protected":false},"author":0,"featured_media":5504,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5503","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\/5503","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=5503"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5503\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/5504"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=5503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=5503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=5503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}