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

Future Retirement Success

Stocks

Stocks Get Defensive as Market Index Enters “NoGo”

by August 5, 2024
August 5, 2024
Stocks Get Defensive as Market Index Enters “NoGo”

Good morning and welcome to this week’s Flight Path. Equities could not hold onto “Go” colors any longer and we saw a strong purple “NoGo” bar as the trend changed on the last bar of the week. GoNoGo Trend painted strong blue “Go” bars for treasury bond prices while the trend remained a “NoGo” for U.S. commodities and the dollar, both painting strong purple bars as the week came to a close.

$SPY Falls into Strong “NoGo” Trend

Price gapped lower on Friday, and GoNoGo Trend painted a first strong “NoGo” bar. This came after a week where GoNoGo Oscillator had been below zero on heavy volume. Later in the week we saw the oscillator get rejected at that level as more sellers entered the market. We had also seen uncertainty in the trend with several amber “Go Fish” bars sprinkled in with the weaker aqua trend color. We will watch to see if the oscillator falls further into negative territory this week which would add downward pressure on price.

An inflection point has arrived on the weekly chart. A second weaker aqua bar tells us that the longer term trend continues to be weak after the last Go Countertrend Correction Icon (red arrow) told us price may struggle to go higher in the short term. GoNoGo Oscillator has fallen to test the zero line from above and we will watch to see if it finds support here at this level. A break into negative territory would likely signal a deeper correction.

Treasury Rates Crash to New Lows in “NoGo” Trend

This week we saw another uninterrupted string of purple “NoGo” bars as price fell every single day of the week. As the week progressed price accelerated its move to the downside. We now see that GoNoGo Oscillator is in oversold territory at an extreme value of -6.

The weekly chart below shows that price has fallen to test prior lows. A second weaker pink “NoGo” bar has pushed price down to horizontal levels that could provide support. We also see that GoNoGo Oscillator has fallen into oversold territory on the weekly chart as well at a value of -5.

The Dollar Reverts Back to “NoGo” Trend

After a lot of uncertainty last week, the dollar fell back into a “NoGo” trend this week with pink and purple bars. On the last day of the week, price gapped lower and is now testing support from earlier lows that we see in the chart. GoNoGo Oscillator broke out of a Max GoNoGo Squeeze on heavy volume as well which tells us that momentum is resurgent in the direction of the “NoGo” trend. We will watch to see if price can fall to new lows this week.

0
FacebookTwitterGoogle +Pinterest
previous post
The SCTR Report: Carvana Stock Makes It To Top of the Podium Today
next post
DP Trading Room: Bear Market Rules Apply

You may also like

Gain AN EDGE Over Other Traders with ADX/DI

May 1, 2024

NVDA at a Crossroads: Decoding the Signals From...

March 30, 2023

Which Way Is Up?

September 23, 2022

AAPL and TSLA Kick Off Q2 With BREAKOUTS!

July 1, 2024

Using the 4MA to Improve Timing

March 16, 2023

SMH Bulls are Skating on Thin Ice

April 23, 2023

Major Shifts Taking Place As Lower Rate Bets...

May 18, 2024

Market Participation Is Dismal

May 10, 2023

Personalized Options Trading Strategies: Discover High-Yield Covered Calls...

April 29, 2025

Week Ahead: NIFTY Travels A Weak Rally; Stay...

June 17, 2023

    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

    • How Will Current Consultations Affect the UK Gambling Industry?

      August 15, 2025
    • Engage Global Audiences: Multilingual Voiceovers Made Simple

      August 15, 2025
    • ASA bans online pharmacy adverts for weight loss injections in major enforcement drive

      August 15, 2025
    • FCA sacks 12 staff over misconduct as regulator moves to tighten industry rules

      August 15, 2025
    • Transparency and Deep Analysis: The Secret of GamblingInformation.com’s Business

      August 15, 2025
    • The Ins and Outs of No Deposit Bonus Codes – Useful Tips and Tricks

      August 15, 2025

    Categories

    • Business (8,790)
    • Investing (2,213)
    • Politics (16,389)
    • Stocks (3,228)
    • 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