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Shares hit record high as Communications joins leadership party | GoNoGo Chart

good morning. Welcome to this week’s Flight Path. The stock rebounded this week with a series of strong blue “Go” bars and the price hitting new highs. Treasury prices have returned to a “Go” trend with a strong blue bar for the week. The product suffered again as GoNoGo Trend was unable to maintain its “Go” colorway. The dollar shows uncertainty heading into the weekend with an orange “Go Fish” bar.

$SPY Shows Strong Blue “Go” Bars at All-Time Highs

The GoNoGo trend shows a resurgence of strength in the “Go” trend, with bright blue bars appearing this week and the price hitting new highs, after the weakness seen the week before. This came with signs of a continuation of the trend as the GoNoGo Oscillator broke into positive territory at GoNoGo Squeeze. This indicates a resurgence of momentum in the direction of the “Go” trend.

The larger weekly chart shows that the “move” trend continues to be strong with another light blue bar and a higher weekly close. The GoNoGo oscillator is now back in overbought territory with a value of 5, showing the market’s enthusiasm for the “Go” trend.

Treasury yields remain “NoGo.”

The GoNoGo Trend has been drawing intense purple “NoGo” bars for most of this week, despite a strong final bar. This week saw new lows as the “NoGo” trend strengthened. The GoNoGo oscillator is in negative territory but not oversold. Since we saw the oscillator rising from Friday’s strong bar, we will wait and see if we find resistance at the zero line of this “NoGo” trend.

Dollar shows uncertainty through “Go Fish” bars.

This week “NoGo” took over the US dollar all week. However, on Friday GoNoGo Trend drew an orange “Go Fish” bar, so we’ll see which way the trend goes this week. As the price jumped higher to paint the amber bar, the GoNoGo oscillator sharply reversed its downward direction from negative territory to a +1 value. We will be interested to see whether the oscillator remains in positive territory or immediately retests the zero line.

tyler wood

About the author:
Tyler Wood, CMT, co-founder of GoNoGo Charts, is committed to expanding the use of data visualization tools that simplify market analysis, removing emotional bias from investment decisions. Tyler has served as Executive Director of the CMT Association for over 10 years, advancing the proficiency and skill of investors in mitigating market risk and maximizing capital markets returns. He is a seasoned business executive focused on educational technology for the financial services industry. Since 2011, Tyler has presented technical analysis tools to investment firms, regulators, exchanges and broker-dealers around the world. Learn more

Alex Cole

About the author:
Alex Cole, CEO and Chief Market Strategist at GoNoGo Charts, is a market analyst and software developer. For the past 15 years, Alex has led technical analytics and data visualization teams, directing business strategy and product development of analytics tools for investment professionals. Alex has created and implemented training programs for large corporations and individual clients. His lectures cover a wide range of technical analysis topics, from introductory to advanced trading strategies. Learn more

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