It is no mystery that US equity indices are chopping around volatile swings each and every day. The trend conditions remain “NoGo” as markets deliver continued lower highs and lower lows. The weight of the evidence remains to the downside on daily and weekly timeframes. However, Wednesday March 16th delivered 3.7% gains on the Nasdaq 100 and Consumer Discretionary $XLY was the highest performing sector of the day at 3.41%. This week, Alex and Tyler walk through GoNoGo Trend from an intraday trading perspective to see how the very short term moves could be traded.
Today’s episode also includes a discussion of two important technical concepts:
Divergence – whether positive or negative, we can look to GoNoGo Oscillator to see whether momentum is reinforcing a price trend or providing early indication of trend deterioration.
Fibonacci Levels – looking at clean GoNoGo Charts allows analysts to overlay a series of support and resistance lines. Fibonacci lines can identify important price levels for extension or retracement of price moves where there is often a confluence of supply or demand.
Volatility continues to deliver fear, uncertainty and doubt to investors as the world deals with accelerating inflation and open war against Ukraine. Treasury bond prices remain in a strong “NoGo” trend, painting purple bars, while $TNX yields climb back to 2.00%. Commodities remain the leading l...
What is clear about the US Equity markets' trend is that it is down. A series of lower highs and lower lows despite the tremendous volatility of last week. GoNoGo Oscillator is testing the zero-line from below. And, while the trend condition is in its weaker pink form, it is still a "NoGo."
This...
For the third week in a row, the major U.S. stock indexes appeared to be on the verge of an overall gain at midweek, only to end up negative after declining on Thursday and Friday. The invasion of Ukraine has made today's selloff even more dramatic, but this isn't an isolated event. If you have b...
