{"id":8148,"date":"2024-08-20T00:05:39","date_gmt":"2024-08-20T00:05:39","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/08\/20\/strong-week-for-equities-as-defense-holds-its-long-term-go-trend\/"},"modified":"2024-08-20T00:05:39","modified_gmt":"2024-08-20T00:05:39","slug":"strong-week-for-equities-as-defense-holds-its-long-term-go-trend","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/08\/20\/strong-week-for-equities-as-defense-holds-its-long-term-go-trend\/","title":{"rendered":"Strong Week for Equities as Defense Holds its Long Term \u201cGo\u201d Trend"},"content":{"rendered":"
\n

Good morning and welcome to this week\u2019s Flight Path. Equities continue their path out of the \u201cNoGo\u201d correction.\u00a0This week we saw amber \u201cGo Fish\u201d bars over the second half of the week.\u00a0GoNoGo Trend shows that the trend in treasury bond prices saw strength with strong blue bars.\u00a0U.S. Commodities index remained in the \u201cNoGo\u201d trend but continue to show weakness.\u00a0The dollar as well, saw weak pink \u201cNoGo\u201d bars at the end of the week.<\/p>\n

$SPY Rallies and Indicator Paints \u201cGo Fish\u201d Bars<\/h4>\n

On Thursday, price gapped higher and GoNoGo Trend painted more \u201cGo Fish\u201d bars as the week came to a close.\u00a0There was much enthusiasm this week and we are fast approaching an interim high.\u00a0GoNoGo Oscillator has broken away from the zero line and out of a small GoNoGo Squeeze into positive territory.\u00a0With positive momentum, we will watch to see if this gives price the push it needs to enter a new \u201cGo\u201d trend.<\/p>\n<\/p>\n

The longer time frame chart tells us that the \u201cGo\u201d trend is still safe for now.\u00a0The week\u2019s strong rally pushed price higher and away from last week\u2019s lows.\u00a0We look at the oscillator panel and see that GoNoGo Oscillator tested the zero level for only a bar or two, and was quickly able to find support and bounce back into positive territory.\u00a0Now we can say that momentum is resurgent in the direction of the underlying \u201cGo\u201d trend and we will look to see if price can climb further from here.<\/p>\n<\/p>\n

Treasury Remain Suppressed<\/strong><\/p>\n

While there was no new lower low this week, the \u201cNoGo\u201d trend remained in place.\u00a0We can see that price is painting pink \u201cNoGo\u201d bars, higher than the recent low and lower than the recent high.\u00a0If we look at the oscillator panel, we can see that GoNoGo Oscillator is testing the zero line from below again.\u00a0We will watch to see if it finds resistance at this level as it has now for several weeks.<\/p>\n<\/p>\n

he weekly chart below shows us that the trend remains strongly \u201cNoGo\u201d.\u00a0This is the second strong purple bar in a row and we can say that there is downside pressure on prices with the weight of the evidence approach. GoNoGo Oscillator is in negative territory but no longer oversold at a value of -3.<\/p>\n<\/p>\n

The Dollar\u2019s \u201cNoGo\u201d Weakens but Remains<\/h4>\n

It was an up and down week for the dollar.\u00a0It fell early in the week then gapped higher before falling again on Friday.\u00a0We saw GoNoGo Trend move between pink and purple \u201cNoGo\u201d bars.\u00a0When price gapped higher it was not able to set a new high and as prices fell again on Friday we saw a NoGo Trend Continuation Icon (red circle).\u00a0GoNoGo Oscillator has been rejected again by the zero line and so we know that momentum is in the direction of the \u201cNoGo\u201d trend.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Good morning and welcome to this week\u2019s Flight Path. Equities continue their path out of the \u201cNoGo\u201d correction.\u00a0This week we saw amber \u201cGo Fish\u201d bars over the second half of the week.\u00a0GoNoGo Trend shows that the trend in treasury bond prices saw strength with strong blue bars.\u00a0U.S. Commodities index remained in the \u201cNoGo\u201d trend but […]<\/p>\n","protected":false},"author":0,"featured_media":8149,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-8148","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\/8148","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=8148"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/8148\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/8149"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=8148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=8148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=8148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}