Diversified Opportunities in US Equities | GoNoGo Charts (04.06)
GoNoGo Charts • 27m
Alex Cole and Tyler Wood, CMT deliver a view of relative and absolute trends across the investible landscape. S&P500 ($SPY) confirms a “Go” trend on both daily and weekly timeframes and Gold ($GLD) shows further upside as the “Go” trend strengthens. Oil ($USO) rallies back to test its 7 month downtrend line and remains in “NoGo” Conditions. The top four cryptocurrencies by market cap continue to outperform $SPY on a relative basis. Within US Equities, outperformance from technology ($XLK) communications ($XLC) continues, but there is also strength in the defensive areas of the market. Consumer staples ($XLP) and even utilities are outperforming the index. Drilling into the industry groups, non-durable household goods and soft drinks lead the XLP. Charts of Sysco ($SYY) and CocaCola ($KO) offer important lessons in trade risk management and capturing opportunities within leadership groups.
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