GoNoGo Charts sees short term SPX trend ending
This is a short term, hourly chart of the SPX. The “Go” trend that it has been in is being threatened.
The GoNoGo Trend indicator has painted mostly the paler blue bars as the market has moved sideways over the last day.
If you look at the GoNoGo Oscillator we can see that it has been struggling to stay above zero, as it should if the “Go” trend is healthy.
Pre market information is telling us that price will open significantly down. Most likely, this will break our upward sloping trend line and send the oscillator further into negative territory.
The GoNoGo Trend indicator has painted mostly the paler blue bars as the market has moved sideways over the last day.
If you look at the GoNoGo Oscillator we can see that it has been struggling to stay above zero, as it should if the “Go” trend is healthy.
Pre market information is telling us that price will open significantly down. Most likely, this will break our upward sloping trend line and send the oscillator further into negative territory.
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