The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

Stocks

DEFENSE TRIES TO HELP EQUITIES MOVE OFF LOWS

by admin May 7, 2024
May 7, 2024
DEFENSE TRIES TO HELP EQUITIES MOVE OFF LOWS

Good morning and welcome to this week’s Flight Path. The equity “NoGo” trend struggled this week as prices climbed from lows. We see an amber “Go Fish” bar as the market tries to understand the trend. GoNoGo Trend paints pink “NoGo” bars for treasury bond prices and commodity prices enter a period of uncertainty with consecutive amber “Go Fish” bars. The dollar, currently, is the only asset that is in a “Go” trend as we see the indicator painting weaker aqua bars. Lots of uncertainty this week!

Markets Uncertain of Equity Trend

The “NoGo” trend gave way to an amber “Go Fish” bar at the end of the trading week. We know, that when the amber bar is painted it is because there are not enough criteria being met behind the scenes for the GoNoGo Trend indicator to identify a trend in either direction, Go or NoGo. Adding to the feeling of uncertainty is the candle itself. A doji candle is when the open and close price are the same or very close, and this is what we saw on Friday. There was no clear winner between the bulls and the bears. No surprise then, when we look at the oscillator panel we see the GoNoGo Oscillator riding the zero line and a Max GoNoGo Squeeze in effect. This is a visual representation of the tug of war between buyers and sellers at this level. We will watch closely to see in which direction the Squeeze is broken, as this will help us determine price direction.

The larger weekly chart shows that we are at an inflection point here as well. We have seen a 4th consecutive weak aqua “Go” bar as price seems to have set a new higher low. GoNoGo Oscillator has crashed over the last month to test the zero line from above where we will watch to see if it finds support. If it does, we will see signs of trend continuation on the price chart. A break below the zero line would signal a more drawn out correction.

Rates Fall After Consolidation

This entire week saw GoNoGo Trend paint weaker aqua “Go” bars as price fell from its most recent high. We turn our eye to the oscillator panel and see that GoNoGo Oscillator has failed to find support at that level. As it dips its nose into negative territory we can say that momentum is out of step with the “Go” trend and we will watch to see if it sinks further into negative territory. If it does, then we may see trend change above. A rally back to the zero line would likely allow the “Go” trend to continue in the short term.

0
FacebookTwitterGoogle +Pinterest
previous post
DP Trading Room: Two Industry Groups To Watch!
next post
Social Security now expected to run short on funds in 2035, one year later than previously projected, Treasury says

Related Posts

What Happens Next for the S&P 500? Pick...

July 12, 2025

My Downside Target for the S&P 500

March 8, 2025

Hedging the S&P All-Time Highs With Options

May 23, 2024

S&P 500 Drops Quickly to Test Key Support...

April 1, 2025

What’s NEXT for Semiconductors After Monday’s SHOCKING Drop?

January 28, 2025

Leverage Salesforce.com’s Growth: A Guide to Smart Options...

December 5, 2024

How to Analyze Volume Trends on Multiple Time...

March 29, 2024

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

April 10, 2025

When in Doubt, Follow the Leadership

April 19, 2025

Applying Dow Theory to Today’s Market: Are We...

May 17, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    Latest

    • The Real Drivers of This Market: AI, Semis & Robotics

      July 21, 2025
    • What Musk’s fracture with Trump means for GOP’s future: ‘Beating heart of the Republican Party’

      July 21, 2025
    • Trump’s housing chief rips Powell for blowing millions on Fed facelift during housing crisis he perpetuates

      July 21, 2025
    • Trump celebrates 6 months back in office: US ‘totally revived’ after being ‘DEAD’ under Biden

      July 21, 2025
    • Biden admin spent hefty sum of US tax dollars to upgrade embassy swimming pools in Iraq, Russia

      July 21, 2025
    • Trump heads to Scotland, continues ironing out trade deals after notching six months back in office

      July 21, 2025

    Categories

    • Business (1,299)
    • Politics (4,040)
    • Stocks (1,535)
    • Uncategorized (45)
    • World News (1,292)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, 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 thetraderharbor.com | All Rights Reserved