• Mon. May 20th, 2024

GNG TV: Equities Rally Through Resistance, Dollar Now a “NoGo” | GoNoGo Charts

GNG TV: Constructive Evidence for Risk-On Markets | GoNoGo Charts


As US Equity indices broke through overhead supply, trend conditions strengthened to strong blue “Go” bars. In this week’s edition of the GoNoGo Charts show, Alex and Tyler review the intermarket headwinds for risk assets including treasury rates ($TNX), the US Dollar index ($UUP) and high cost of oil ($USO) which have now all fallen into a distribution phase in NoGo trends. Interestingly, leadership in the new S&P 500 rally is coming from growth sectors, such as information technology ($XLK) and consumer discretionary ($XLY), but also the industrials sector ($XLI), which are all in “Go” trends on both an absolute and relative basis. Watch the top-down process this week as Alex and Tyler pull out leaders by asset class, sector, and into the individual names leading within the outperforming sectors.

This video was originally recorded on August 11, 2022. Click this link to watch on YouTube. You can also view new episodes – and be notified as soon as they’re published – using the StockCharts on demand website, StockChartsTV.com, or its corresponding apps on Roku, Fire TV, Chromecast, iOS, Android and more!

New episodes of GoNoGo Charts air on Thursdays at 3:30pm ET on StockCharts TV. Learn more about the GoNoGo ACP plug-in with the FREE starter plug-in or the full featured plug-in pack.

Alex Cole

About the author:
Alex Cole, CEO and Chief Market Strategist at GoNoGo Charts, is a market analyst and software developer. Over the past 15 years, Alex has led technical analysis and data visualization teams, directing both business strategy and product development of analytics tools for investment professionals. Alex has created and implemented training programs for large corporations and for private clients. His teaching covers a wide breadth of Technical Analysis subjects from introductory to advanced trading strategies.
Learn More

Tyler Wood

About the author:
Tyler Wood is the Chief Operating Officer of GoNoGo Charts and a seasoned business executive who has led the operational and business development activities of teams large and small. As an executive manager over the past 20 years, he built and brought products to market in the educational technology space and financial services industry. As the Managing Director of the CMT Association for over a decade, Tyler has presented the tools of technical analysis around the world to investment firms, regulators, exchanges, and broker-dealers. Galvanizing vendors, volunteers, and demanding stakeholders around a common vision, Tyler designed and implemented policies and programming that raised the standards for professional technical analysis worldwide.
Learn More

Subscribe to GoNoGo Charts to be notified whenever a new post is added to this blog!


Image and article originally from stockcharts.com. Read the original article here.