{"id":5710,"date":"2024-07-02T00:04:16","date_gmt":"2024-07-02T00:04:16","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/07\/02\/communications-sector-joins-technology-sector-to-help-buoy-equity-markets\/"},"modified":"2024-07-02T00:04:16","modified_gmt":"2024-07-02T00:04:16","slug":"communications-sector-joins-technology-sector-to-help-buoy-equity-markets","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/07\/02\/communications-sector-joins-technology-sector-to-help-buoy-equity-markets\/","title":{"rendered":"COMMUNICATIONS SECTOR JOINS TECHNOLOGY SECTOR TO HELP BUOY EQUITY MARKETS"},"content":{"rendered":"<div>\n<p>Good morning and welcome to this week\u2019s Flight Path. \u201cGo\u201d bars were the order of the week again for U.S. equities and the end of the week saw a return to strong blue bars.\u00a0Treasury bond prices also were able to maintain \u201cGo\u201d bars but ended the week showing weakness.\u00a0U.S. commodity index painted a full week of weaker aqua \u201cGo\u201d bars while the dollar continued to show strength with strong blue bars.<\/p>\n<h4>$SPY Remains in \u201cGo\u201d Trend but Struggles with New Highs<\/h4>\n<p>Price hit an intra week high again this week but we saw Friday close lower.\u00a0GoNoGo Trend painted strong blue bars at the end of the week and so we know the trend remains strong.\u00a0GoNoGo Oscillator has fallen from overbought territory and volume is light as it crashes toward the zero line.\u00a0So, we have momentum waning but price holding on to trend.\u00a0We will watch to see what happens as the oscillator gets to zero and we will look for it to find support if the trend is to remain healthy.<\/p>\n<\/p>\n<p>Price crept higher this week and we saw another strong blue \u201cGo\u201d bar which makes it 8 in a row.\u00a0GoNoGo Oscillator has peaked but is still overbought at a value of 5.\u00a0We will look to see if momentum continues to wane and if so we\u2019ll see a Go Countertrend Correction Icon (red arrow) that will indicate a likely pause and a struggle for prices to go higher in the short term.<\/p>\n<\/p>\n<p><strong>Treasury Rates Still in \u201cNoGo\u201d Trend but Paints Weaker Pink Bars<\/strong><\/p>\n<p>Treasury rates climbed this week after last week\u2019s low and we see that GoNoGo Trend paints a few weaker pink bars.\u00a0The weight of the evidence still points to a \u201cNoGo\u201d trend but we will watch to see if it holds this week.\u00a0GoNoGo Oscillator has rallied and is testing the zero level from below.\u00a0If it is rejected here, we will likely see a new leg down in price.<\/p>\n<\/p>\n<h4>Dollar Sees Continued Strength as Price Makes New Highs<\/h4>\n<p>Price hit new highs this week and GoNoGo Trend painted a week of uninterrupted strong blue \u201cGo\u201d bars.\u00a0We will look for price to consolidate at these levels using support from prior highs in May.\u00a0GoNoGo Oscillator has flatlined at a value of 3 and so is in positive territory but not yet overbought.\u00a0Volume is heavy.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Good morning and welcome to this week\u2019s Flight Path. \u201cGo\u201d bars were the order of the week again for U.S. equities and the end of the week saw a return to strong blue bars.\u00a0Treasury bond prices also were able to maintain \u201cGo\u201d bars but ended the week showing weakness.\u00a0U.S. commodity index painted a full week [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":5711,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5710","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\/5710","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=5710"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5710\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/5711"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=5710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=5710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=5710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}