• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Equities Maintain “Go” Trend as Another Defensive Sector Shows Outperformance
Stock

Equities Maintain “Go” Trend as Another Defensive Sector Shows Outperformance

by April 17, 2023
by April 17, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

How is the overall stock market looking as of the end of last week? Let’s take a look at the GoNoGo Asset map below. Equities remain in the “Go” trend as we start the new week. Treasury bond prices are likewise in a strong “Go,” and commodities have entered a weak aqua “Go” trend. The dollar remains embroiled in a strong “NoGo.”

Equities Paint Strong Blue “Go” Bars

After breaking out of the Max GoNoGo Squeeze a week ago, there has been a string of “Go” bars painted by GoNoGo Trend. While price failed to end the week higher, it’s seeing brighter blue bars as price tries to climb to test prior highs from earlier this year.

The weekly chart shows the “Go” trend remains in place with another strong blue “Go” bar painted. Those astute candlestick chartists will notice last week’s candle represents a “doji” (uncertainty) with the open and close at similar levels. GoNoGo Oscillator shows that momentum is on the side of the “Go” trend as it breaks out of a small GoNoGo Squeeze into positive territory.

Treasury Rates Fall to New Lows

Treasury rates painted mostly strong purple “NoGo” bars this week as price tested and then fell below horizontal support. As this happened, GoNoGo Oscillator confirmed by testing the zero line from below and then being rejected, falling back into negative territory. This tells us that momentum is resurgent in the direction of the current “NoGo” trend.

The weekly chart now sees the trend line up with that of the daily periodicity. Last week saw a first pink “NoGo” bar as GoNoGo Trend cycled out of “Go Fish” into a “NoGo” color for the first time since late 2021. GoNoGo Oscillator is below zero and falling, confirming that momentum is on the side of this new “NoGo”.

Dollar Continues in “NoGo” Trend

GoNoGo Trend painted uninterrupted strong purple “NoGo” bars this week as prices continued to move lower. In striking range of the February lows, we will watch to see if these levels are tested.  GoNoGo Oscillator is in negative territory but not oversold.

The weekly chart shows little change from where we were last week. Prices have moved slightly lower. The GoNoGo Oscillator remains at zero and a Max GoNoGo Squeeze is in effect. Watch to see if prices test prior lows. This would be more likely should the GoNoGo Oscillator fail at the zero line and get turned away into negative territory again.

Oil’s Gap Higher Puts Price at Resistance

The United States Oil Fund (USO) saw a jump higher last week and a return to a pink “NoGo” bar. This price action is testing the downward sloping resistance line that has been in place since the summer of last year. As price runs up against resistance, so does GoNoGo Oscillator in the form of the zero line. Since it’s quickly returning to that level, it’s best to watch to see if it gets rejected and sent lower or if it can break through into positive territory. The second scenario needs to play out if you expect price to move above its own resistance.

Gold Sets New High

$GLD saw a new high this week as GoNoGo Trend painted consistent strong blue “Go” bars after the Go Trend Continuation Icon (green circle) that occurred midweek.The GoNoGo Oscillator fell to the zero line and found support immediately, bouncing back into positive territory.

You Might Also Like
  • The Ord Oracle December 5, 2023
  • Here’s Why The Bottom Is Dropping Out of the Dow Jones
  • The Long-Term Bull Case for Bitcoin
  • Earnings Momentum May Push the Stock Market to New Highs
Share
0
FacebookTwitterPinterestWhatsapp

previous post
The Synthetic Covered Call Options Strategy Explained
next post
The Halftime Show: It’s NOT What the Fed Does That Matters

You may also like

Which Sectors Benefit Most From the Large- to Mid- &...

December 29, 2023

New Industry Group Golden Cross Indexes and Silver Cross Indexes

February 4, 2023

SHOP Stock Ready to Surge: An Options Strategy to Take...

September 18, 2024

DP Trading Room: Bear Market Rules Apply

August 5, 2024

Growth Stocks Seen THRIVING in Anticipation of NVDA Earnings

August 23, 2023

Bullish Buyers Return After Market Selloff

February 2, 2024

Trump’s Policy Shift Reveals Potential Big Winner!

December 28, 2024

The Best Five Sectors, #9

March 3, 2025

The Top Candlestick Pattern For Entries

March 21, 2024

Transform Your Investing Strategy: Uncover the 3 Game-Changing Rules

March 10, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025
    • NBA star Russell Westbrook launches AI-enabled funeral planning startup

      May 7, 2025
    • Use This Multi-Timeframe MACD Signal for Precision Trades

      May 7, 2025
    • Judge allows lawsuit over Burger King’s Whopper ads to move forward

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,630 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,185 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,064)
    • Investing (538)
    • Stock (2,529)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against...

      May 7, 2025
    • NBA star Russell Westbrook launches AI-enabled funeral planning startup

      May 7, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,064)
    • Investing (538)
    • Stock (2,529)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Trend (Re)Entry and You!

    August 15, 2023

    Is Peloton Stock the Next Big...

    August 23, 2024

    Cryptocurrency Prices in the Spotlight, Small...

    December 5, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here