Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

FINANCIALS BEGIN TO OUTPERFORM AS EQUITY “GO” TREND WEAKENS

by July 22, 2024
July 22, 2024
FINANCIALS BEGIN TO OUTPERFORM AS EQUITY “GO” TREND WEAKENS

Good morning and welcome to this week’s Flight Path. We saw a lot of weakness this week but so far the “Go” trend has held in U.S. equities. GoNoGo Trend has reflected the weakness with a couple of aqua “Go” bars late in the week. Treasury bond prices showed a weaker aqua “Go” bar as well but remained in trend. The U.S. commodities index saw the “Go” trend crack and an amber “Go Fish” bar was followed by a pink “NoGo” trend bar. The dollar, having flirted with a “NoGo” all week, saw GoNoGo Trend paint an amber “Go Fish” bar on Friday.

$SPY Sees Price Fall From Highs

Last week we noted the Go Countertrend Correction Icons (red arrows) indicating that price may struggle to go higher in the short term. Indeed, we saw another red arrow early in the week before price really fell away. GoNoGo Trend has painted 3 consecutive weaker aqua bars. GoNoGo Oscillator has fallen sharply to test the zero level from above on heavy volume. It will be important for the Oscillator to hold the zero line if we are to prevent a deeper price drop. We are at an area that could offer price support from recent congestion levels and so this will be an important week.

Although we still see a strong blue “Go” bar this week on the longer time frame chart, it is a lower weekly close. We also see a Go Countertrend Correction Icon (red arrow) telling us that in the short term price may struggle to go higher. GoNoGo Oscillator shows that momentum has waned and it is in positive territory but no longer overbought.

Treasury Rates Remain in “NoGo” Trend

This week saw a new lower low for treasury bond rates on the daily chart. Strong purple “NoGo” bars dominated the chart until Friday when price gapped higher and GoNoGo Trend painted a weaker pink bar. GoNoGo Oscillator is in negative territory at a value of -2. We will look to see if a new lower high is set this week.

More Uncertainty for the Dollar

Last week we talked about the uncertainty in the dollar. This week we saw a week where GoNoGo Trend painted mostly “NoGo” bars. However, as the week came to a close, we saw an amber “Go Fish” bar. Uncertainty book ends the few “NoGo” bars we saw in between. GoNoGo Oscillator is rising toward the zero line on heavy volume. We will watch to see if it stays in negative territory or if it can attack the zero line.

The weekly chart looks much the same as it did last week. The “Go” trend is hanging on and price is at levels that are above what should be strong support. GoNoGo Trend is painting weaker aqua “Go” bars after price fell from the last Go Countertrend Correction Icon. GoNoGo Oscillator is at zero, where we will watch to see if it finds support.

0
FacebookTwitterGoogle +Pinterest
previous post
DP Trading Room: Behind the Scenes: CrowdStrike (CRWD)
next post
Wes Moore, considered a rising star among Democratic governors, endorses Kamala Harris

You may also like

Rising Rates Suggest Weaker Stocks – Here’s What...

January 6, 2025

The Hoax of Modern Finance – Part 9:...

February 22, 2024

Key Levels for the S&P 500: Has It...

April 9, 2025

Two Defensive Sectors are Outperforming – What Does...

October 25, 2023

XLV’s Record Rally: The Must-Know Investment Move of...

January 12, 2024

Week Ahead: NIFTY Stares At Crucial Support; RRG...

February 8, 2025

Commodity and Healthcare Related ETFs Lead in 2025...

March 7, 2025

MUST SEE Options Trade Ideas! DIS, AAPL, META,...

December 24, 2024

This Week’s “Sector to Watch” and “Industry Group...

September 27, 2024

Double Top on Industrials (XLI)

December 6, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Elon Musk warpath against Trump’s ‘big, beautiful bill’ rattles House GOP

      June 4, 2025
    • Durbin obstruction threat chills Senate as Trump nominees hang in balance

      June 4, 2025
    • Elon Musk posts ‘Kill Bill’ meme in latest push to nix Trump’s ‘big, beautiful bill’

      June 4, 2025
    • Why ADX Can Mislead You — And How to Avoid It

      June 4, 2025
    • S&P 500 on the Verge of 6,000: What’s at Stake?

      June 4, 2025
    • Johnson says Republicans ‘don’t have time’ to craft new Trump plan despite Musk’s call to ‘KILL the BILL’

      June 4, 2025

    Categories

    • Business (8,143)
    • Investing (2,006)
    • Politics (15,518)
    • Stocks (3,127)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved