• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Strong Week for Equities as Defense Holds its Long Term “Go” Trend
Stock

Strong Week for Equities as Defense Holds its Long Term “Go” Trend

by August 19, 2024
by August 19, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Good morning and welcome to this week’s Flight Path. Equities continue their path out of the “NoGo” correction. This week we saw amber “Go Fish” bars over the second half of the week. GoNoGo Trend shows that the trend in treasury bond prices saw strength with strong blue bars. U.S. Commodities index remained in the “NoGo” trend but continue to show weakness. The dollar as well, saw weak pink “NoGo” bars at the end of the week.

$SPY Rallies and Indicator Paints “Go Fish” Bars

On Thursday, price gapped higher and GoNoGo Trend painted more “Go Fish” bars as the week came to a close. There was much enthusiasm this week and we are fast approaching an interim high. GoNoGo Oscillator has broken away from the zero line and out of a small GoNoGo Squeeze into positive territory. With positive momentum, we will watch to see if this gives price the push it needs to enter a new “Go” trend.

The longer time frame chart tells us that the “Go” trend is still safe for now. The week’s strong rally pushed price higher and away from last week’s lows. We look at the oscillator panel and see that GoNoGo Oscillator tested the zero level for only a bar or two, and was quickly able to find support and bounce back into positive territory. Now we can say that momentum is resurgent in the direction of the underlying “Go” trend and we will look to see if price can climb further from here.

Treasury Remain Suppressed

While there was no new lower low this week, the “NoGo” trend remained in place. We can see that price is painting pink “NoGo” bars, higher than the recent low and lower than the recent high. If we look at the oscillator panel, we can see that GoNoGo Oscillator is testing the zero line from below again. We will watch to see if it finds resistance at this level as it has now for several weeks.

he weekly chart below shows us that the trend remains strongly “NoGo”. This is the second strong purple bar in a row and we can say that there is downside pressure on prices with the weight of the evidence approach. GoNoGo Oscillator is in negative territory but no longer oversold at a value of -3.

The Dollar’s “NoGo” Weakens but Remains

It was an up and down week for the dollar. It fell early in the week then gapped higher before falling again on Friday. We saw GoNoGo Trend move between pink and purple “NoGo” bars. When price gapped higher it was not able to set a new high and as prices fell again on Friday we saw a NoGo Trend Continuation Icon (red circle). GoNoGo Oscillator has been rejected again by the zero line and so we know that momentum is in the direction of the “NoGo” trend.

You Might Also Like
  • These High-Yield Stocks are Still Winning Despite Market Chaos!
  • Top Ten Charts for August: Two Tempting Consumer Staples Names
  • Double Tops on Bitcoin and the Dollar
  • Don’t Even Think About Investing Without Addressing These 10 Essentials (Part 1: Essentials #1 – #5)
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Israeli officials confirm Tel Aviv bombing was a terrorist attack, Hamas claims responsibility
next post
DP Trading Room: Potential Housing Crash?

You may also like

MEM TV: Market Uptrend Endures Ahead of BIG Earnings Next...

January 27, 2024

DraftKings’ Stock Overheating? Here’s What You Need to Do Now

February 16, 2024

MEM TV: Wait For This Before Getting Back In

April 26, 2024

AMD at a Crossroads: Buy Now or Brace for More...

May 2, 2024

Confirmed! Head-and-Shoulders Top Pattern for the S&P 500!

September 21, 2023

What’s NEXT for Semiconductors After Monday’s SHOCKING Drop?

January 27, 2025

Stay Ahead of GDP: 3 Charts to Become a Smarter...

January 27, 2023

What More do the Bulls Want?

October 4, 2024

Crude Oil Reaches an Interesting Juncture

April 10, 2023

A Debit Spread in American Express to Add Long Exposure

June 14, 2024

    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

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

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

      June 27, 2024 2,765 views
    • 2

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

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

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

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    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

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    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

    DP Trading Room: Black Swan Monday

    January 27, 2025

    The Case for Small-Caps as Major...

    November 17, 2023

    Five Ways You Should Use ChartLists...

    November 27, 2024
    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