Rally Provides No Relief As "NoGo" Returns | GoNoGo Charts (10.13)
GoNoGo Charts • 26m
In a highly volatile morning, markets reacted to an upside surprise in both PPI and CPI inflation data. Annualized inflation remains at 8.2% in the US and the S&P 500 gapped lower at the open. Despite a magnificent rally back into positive territory by midday, the trend remains a “NoGo.” Alex and Tyler review SPY on a Weekly, Daily and 3 min time horizon to unpack how trend conditions are reflected on multiple perspectives. Reviewing the sharp selloff in the US Dollar index today, $UUP remains in an upward “Go” trend. Similarly in $TNX, US treasury yields continue to climb higher. Alex and Tyler review $DBA, a diversified agricultural commodities ETF along multiple timeframes as well to better understand what could be a larger secular move in the commodities market.
Tune in to the Wealth365 Summit tomorrow, Friday Oct 14 at 2pm for an educational presentation from Alex and Tyler on how to “Clean up your charts!” - www.wealth365.com/gonogo
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