{"id":8586,"date":"2024-08-27T00:04:34","date_gmt":"2024-08-27T00:04:34","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/08\/27\/equities-continue-surge-amid-healthy-rotation\/"},"modified":"2024-08-27T00:04:34","modified_gmt":"2024-08-27T00:04:34","slug":"equities-continue-surge-amid-healthy-rotation","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/08\/27\/equities-continue-surge-amid-healthy-rotation\/","title":{"rendered":"Equities Continue Surge Amid \u201cHealthy\u201d Rotation"},"content":{"rendered":"
\n

Good morning and welcome to this week\u2019s Flight Path. Equities continue their path out of the \u201cNoGo\u201d correction.\u00a0The \u201cGo\u201d trend has returned for U.S. equities as we see first an aqua and then a blue \u201cGo\u201d bar.\u00a0This came after a string of uncertain amber \u201cGo Fish\u201d bars.\u00a0Treasury bond prices remained in a \u201cGo\u201d trend albeit painting weaker aqua bars at the end of the week. U.S. commodities stayed in a \u201cNoGo\u201d painting weaker pink bars and the dollar showed strong purple \u201cNoGo\u201d bars.<\/p>\n

$SPY Continues to Rally and Flags \u201cGo\u201d Trend<\/h4>\n

The week finished strongly as we saw GoNoGo Trend paint a bright blue \u201cGo\u201d bar as prices rallied after a challenging Thursday.\u00a0We now see that momentum is in positive territory but not yet overbought and we will watch to see if price can mount an attack on a new high over the coming days and weeks.<\/p>\n<\/p>\n

The longer time frame chart shows that the trend is strong.\u00a0At the last high we saw a Go Countertrend Correction Icon (red arrow) that indicated prices may struggle to go higher in the short term.\u00a0Indeed, we then saw consecutive lower weekly closes on pale aqua bars.\u00a0During this time, GoNoGo Oscillator fell to test the zero line from above and it became important to see if it could find support at that level.\u00a0It did, and as it bounced back into positive territory we saw a Go Trend Continuation Icon (green circle) under the price bar.<\/p>\n<\/p>\n

Treasury Prices Remain in Strong \u201cNoGo\u201d<\/strong><\/p>\n

Treasury bond prices remained in a \u201cNoGo\u201d trend this week with the indicator painting strong purple bars.\u00a0We see that although we haven\u2019t seen a new low we have seen consecutive lower highs in the last few weeks.\u00a0GoNoGo Oscillator is testing the zero line from below once again and we will watch to see if gets rejected here or if it is able to break through into positive territory.<\/p>\n<\/p>\n

The Dollar\u2019s \u201cNoGo\u201d Shows Renewed Strength<\/h4>\n

A strong message sent this week for the U.S. dollar.\u00a0A string of purple \u201cNoGo\u201d bars took prices to new lows.\u00a0GoNoGo Oscillator is back in oversold territory after briefly trying to move back toward neutral territory.\u00a0Volume is heavy, showing strong market participation in this most recent move lower.<\/p>\n<\/p>\n

USO Stays in \u201cNoGo\u201d Trend<\/h4>\n

Price moved lower all week on strong purple bars.\u00a0We didn\u2019t see a new low though and on Friday price gapped higher and GoNoGo Trend painted a weaker pink bar.\u00a0GoNoGo Oscillator is back testing the zero level from below where we will watch to see if it finds resistance.\u00a0If it does, we can expect further downside pressure on price.\u00a0If it is able to regain positive territory we may well see price try to rally out of the \u201cNoGo\u201d.<\/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.\u00a0The \u201cGo\u201d trend has returned for U.S. equities as we see first an aqua and then a blue \u201cGo\u201d bar.\u00a0This came after a string of uncertain amber \u201cGo Fish\u201d bars.\u00a0Treasury bond prices remained in a \u201cGo\u201d trend albeit […]<\/p>\n","protected":false},"author":0,"featured_media":8587,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-8586","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\/8586","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=8586"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/8586\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/8587"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=8586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=8586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=8586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}