Alex and Tyler review markets following the recent 50 basis point hike from Fed Chairman Jerome Powell. While the relief rally in the S&P 500 has retained its "Go" trend conditions, early warning signs from GoNoGo Oscillator suggest negative momentum as a threat to the durability of the recent run. On longer timeframes, $SPY shows a weaker "NoGo" on pink bars and a neutral inflection point for momentum.
Using a risk proxy ratio HYG:TLT Alex and Tyler highlight the risk-off behavior in the bond market even in the face of the recent equity rally. Defensive sectors outperform the index on a relative basis with outperformance in both healthcare ($XLV) and staples ($XLP) leading. Johnson & Johnson (JNJ) shows a strong "Go" trend which is somewhat unique in an otherwise heavy market.
After a heavy day earlier in the week Alex looks at how the U.S. Equity markets seem to have found support. He walks through charts over multiple timeframes of several macro factors that impact risk assets such as Treasury rates, Oil prices and the dollar. After that Alex looks in some detail at...
Tyler Wood, CMT shares perspective on global markets from a trend perspective looking at a "Go" trend in US equities that is bumping up against a familiar downtrend resistance line. Looking across macro forces like the "NoGo" in the US Dollar, Oil and Yields investors can better understand the co...
Alex Cole and Tyler Wood, CMT review cross-asset relationships from a GoNoGo Trend Perspective. NoGo trends on the daily timeframe for USD and TNX provide tailwinds for risk assets. Multiple timeframe analysis reveals that the recent rotation to “risk-on” still has more to prove on the weekly cha...
