{"id":6914,"date":"2024-07-30T00:05:04","date_gmt":"2024-07-30T00:05:04","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/07\/30\/equities-struggle-as-more-sectors-try-to-keep-the-trend-afloat\/"},"modified":"2024-07-30T00:05:04","modified_gmt":"2024-07-30T00:05:04","slug":"equities-struggle-as-more-sectors-try-to-keep-the-trend-afloat","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/07\/30\/equities-struggle-as-more-sectors-try-to-keep-the-trend-afloat\/","title":{"rendered":"Equities Struggle As More Sectors Try To Keep the Trend Afloat"},"content":{"rendered":"
\n

Good morning, and welcome to this week\u2019s Flight Path. <\/p>\n

Equities had another tough week last week, and we saw an amber \u201cGo Fish\u201d bar for the first time since this latest \u201cGo\u201d trend began.\u00a0Encouragingly, GoNoGo Trend painted a weak aqua \u201cGo\u201d bar on the last day of the week, but has the damage been done? Treasury bond prices also fell briefly out of the \u201cGo\u201d trend but also ended the week with an aqua \u201cGo\u201d bar.\u00a0US commodities fell deeper into a \u201cNoGo\u201d as the indicator painted a strong purple bar.\u00a0The dollar still cannot make up its mind, and we saw a string of \u201cGo Fish\u201d this past week.<\/p>\n

SPY Manages To Maintain a \u201cGo\u201d for Now<\/h2>\n

Price has fallen further since the Go Countertrend Correction Icons that we saw at the top.\u00a0This week, a \u201cGo Fish\u201d bar was painted as the market expressed its uncertainty.\u00a0This comes as GoNoGo Oscillator crashed through the zero line into positive territory on heavy volume.\u00a0We know that in a healthy trend, the oscillator should find support at that level, and so we know now that momentum is out of step with the \u201cGo\u201d trend.\u00a0We will be wary of more price deterioration here.<\/p>\n<\/p>\n

A Hint of Weakness on the SPY Weekly Chart\u00a0<\/h2>\n

For the first time in almost three months, SPY did not close in a strong blue bar.\u00a0We also note the Go Countertrend Correction Icon (red arrow) that appeared at the top.\u00a0This suggests that price may struggle to move higher in the short term because momentum has waned.\u00a0We will see if the oscillator finds support at zero as it gets closer.<\/p>\n<\/p>\n

Treasury Rates in \u201cNoGo\u201d but Paint Weak Pink Bars<\/h2>\n

This week, we saw a week of uninterrupted pink \u201cNoGo\u201d bars. Price seems to have set a new lower high as we ended the week lower.\u00a0If we turn our eye to the GoNoGo Oscillator we can see that it is testing the zero line from below.\u00a0If this NoGo trend is to remain in place we expect to see this level act as resistance.\u00a0If GoNoGo Oscillator is turned away into negative territory we will look for price to make an attempt at new lows.<\/p>\n<\/p>\n

Continued Uncertainty for the US Dollar<\/h2>\n

We\u2019ve been discussing uncertainty in the US dollar for a few weeks now.\u00a0This week, we saw \u201cGo Fish\u201d bars dominate as price moved mostly sideways.\u00a0The GoNoGo Oscillator is riding the zero line after rising to it from below.\u00a0We see a GoNoGo Squeeze climbing to its Max.\u00a0We will pay close attention to the direction of the break. If the oscillator breaks back into negative territory, then we will look for price to move lower.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Good morning, and welcome to this week\u2019s Flight Path. Equities had another tough week last week, and we saw an amber \u201cGo Fish\u201d bar for the first time since this latest \u201cGo\u201d trend began.\u00a0Encouragingly, GoNoGo Trend painted a weak aqua \u201cGo\u201d bar on the last day of the week, but has the damage been done? […]<\/p>\n","protected":false},"author":0,"featured_media":6915,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-6914","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\/6914","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=6914"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/6914\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/6915"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=6914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=6914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=6914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}