With US Equity Indices at critical inflection points, Alex and Tyler review the possible scenarios through GoNoGo Charts: is this a bear market countertrend rally or the bottoming before we resume the bull market trend? GoNoGo Charts do not forecast market outcomes, but rather help investors simplify trade decisions using the weight of the evidence in elegantly simple data visualization.
As earnings season plows on, several blue-chip US equities emerged from Q4 reporting as leaders with “Go” trends intact that continued to rally this week including Chevron, and Apple Inc. From a longer view, GoNoGo Charts will show the commodities rally that has strengthened in 2022, is truly just getting started. Obvious leadership has been found in the energy sector, $XLE, on the coattails of rocketing oil ($USO) prices. But as a lower beta inflation hedge, Alex and Tyler review the longterm chart of a diversified agriculture ETF, $DBA, which is showing evidence of a structural “Go” trend worth watching.
Welcome to GoNoGo Charts weekly show on StockchartsTV.