Since hitting recent highs in July, the blockchain platform has corrected sideways. With that correction, the GoNoGo Oscillator gave an advance warning of the GoNoGo Trend color change by breaking into negative territory. After struggling with resistance at the zero line, recent price action has enabled the GoNoGo Oscillator to cross back into positive territory....
The Squeeze is on for Gold. After briefly breaking above 2000, price has come back and in the process positive momentum has dried up. The GoNoGo Trend is still a “Go” but the GoNoGo Squeeze indicator shows the climbing grid at extremes indicating that momentum has been neutral for several bars. It will be important to see which direction price goes out of the...
Important moment for the Dollar Index! After months in this current “NoGo” trend we see some signs that the Dollar maybe strengthening against the basket of other currencies. There is bullish divergence, with price making lower lows and the oscillator making higher lows. I have highlighted this with the grey trend lines. Also, the GoNoGo Oscillator is testing...
The EURUSD is in a strong “Go” trend, having risen sharply since the last “Go” flag in late May. Since then, the interplay between the GoNoGo Trend and the GoNoGo Oscillator have signaled several low risk entry points with green circles. Most recently we saw one on the 17th of August. After this sign of renewed momentum, we are seeing the pair trying to break...
Since the GoNoGo “Go” flag on the 16th of April, Tesla stock has surged 150%! Most recently, the close on 8/13 gave another low risk entry green circle. The stock then rallied to new all time highs, closing at 1835.64 yesterday. The GoNoGo Oscillator shows that there has been strong participation in this current push higher (darker blue line) and is currently at...
On 7/22, the GoNoGo Trend flagged a “Go” for *Bitcoin. This trend change happened as the GoNoGo Oscillator broke out of the climbing grid of the GoNoGo Squeeze (first grey arrow lower panel). *Bitcoin has been consolidating in a range with lows around 11,000 and highs of 12,000 since the move. Now for the first time in this “Go” trend, the GoNoGo Oscillator is...
PLUG has been in a strong "Go" trend and has now broken out of a corrective trend channel to the upside. The prior bar was enough to give a low risk re-entry on the GoNoGo Trend chart. Having moved sharply up it has eclipsed the highs of the consolidation pattern and now should find support around the strong psychological level of $10. What are the GoNoGo...
GoNoGo Charts is showing a low risk entry (green circle) into the the “Go” trend that is in place. We saw a long GoNoGo Squeeze in effect for the past several bars. Now, the GoNoGo Oscillator has found support at the zero line and broken out of the squeeze into positive territory. We expect price to rally in the short term and likely test the previous high...
It is an mportant moment for the EURUSD cross. After a sustained rally against the Dollar, the Euro’s relentless price action has cooled slightly. We see a few paler blue GoNoGo Trend bars, indicating the environment, while still a “Go” is slightly less *bullish. We also see a short term counter correction red arrow, signaling in the short term a...
The above is the daily technical picture of the S&P 500. Clearly, the trend is a “Go”. However, there are a few things to consider. There is *bearish divergence between the higher highs in price and the lower highs of the GoNoGo Oscillator. Momentum has also stalled, as the GoNoGo Oscillator has fallen to test zero from above. For price to set a new higher...
There has been a trend change for this pair! The unique blend of robust technical trend concepts that combine to create the colors of the GoNoGo Trend have caused the study to paint the first bullish “Go” bar in several months. The current bar is also above prior swing highs. We expect an initial test of 1.8455. What are the GoNoGo Indicators? The GoNoGo...
Having looked at the Technology sector etf XLK yesterday, let’s look at a GoNoGo chart of one of the giants of the S&P 500, Facebook. This is a daily chart of Facebook stock prices. We see a trend change for the social media company with the GoNoGo Trend flagging a “NoGo” on the most recent bar. This tells us that our blend of technical concepts is bearish, for...
The technology sector has outperformed on a relative basis in 2020. Tech stocks in general were hit less hard by the COVID-19 pandemic and have rallied quicker and further than the rest of the market since the lows in March. Right now, the five largest stocks by market cap in the S&P 500 are Microsoft, Apple, Amazon, Facebook and Google. And between them, they...
The chart above is a GoNoGo weekly chart of Coca-Cola. This long term chart shows how the beverage maker has rallied from the extreme low in March only to be turned away by resistance around $50 several times. Currently, price is marching up to that level again and this time it has some bullish momentum with it. The GoNoGo Oscillator has not been turned away...
A few bars ago saw a “Go” flag on the daily GoNoGo chart of Bitcoin. As we previously highlighted, Bitcoin had slipped into a low volatility consolidation that was shown on the GoNoGo Charts by the climbing grid of the GoNoGo Squeeze. Analysts understand that after periods of low volatility like this, price often breaks out and can move sharply. The Squeeze has...
GoNoGo Charts has flagged a recent “Go” signal on Pfizer Inc, and this has driven price higher to test previous highs. If price can consolidate above this level that would be a very good sign. The GoNoGo Oscillator crossed into positive territory on a surge in price several bars before the “Go” flag, suggesting the trend change. Of note now, is the heavy volume...
The U.S. Dollar Index has been in a free fall since the beginning of July. Above is a 4hr GoNoGo Chart showing the “NoGo” trend highlighted with the purple and pink bars. Along the way, each time the GoNoGo oscillator has been rejected from below by the zero line, we have been given low risk entry points into the “NoGo” trend (Red circles). The GoNoGo Oscillator...
Let’s look at this chart and see how we can use traditional technical analysis while the GoNoGo Charts highlight all that we need to know in terms of trend and momentum. The technical analysis we need to get a complete picture of the security’s price action is blended into the GoNoGo chart leaving the price action unobscured. So what do we see? After a strong...