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

The Trader Harbor

Stocks

EQUITIES REMAIN IN “GO” TREND WITH SPARSE LEADERSHIP FROM TECH AND UTILITIES

by admin May 29, 2024
May 29, 2024
EQUITIES REMAIN IN “GO” TREND WITH SPARSE LEADERSHIP FROM TECH AND UTILITIES

Good morning and welcome to this week’s Flight Path. We saw some weakness this week as price pulled back a little from all time highs. Momentum cooled, we saw this in the form of Go Countertrend Correction Icons (red arrows) and GoNoGo Trend painted weaker aqua bars. Treasury bond prices gained strength and painted blue bars. U.S. commodity index continued to show market uncertainty and the dollar regained “Go” colors albeit weaker aqua.

$SPY Shows Investors Digesting Gains

The “Go” remained this week but prices cooled as the market absorbed the gains we’ve seen over the past few weeks. As the week of trading came to a close, we saw weakness as GoNoGo Trend painted a couple of aqua bars. We will now turn out eye to the oscillator panel and watch as GoNoGo Oscillator approaches the zero line. We will look to see if it finds support at this level and bounces back into positive territory. If it does, we will see Go Trend Continuation (green circle) and can expect price to make an attack on a new higher high.

The larger weekly chart shows that the larger picture remains extremely bullish with another strong blue bar painted and price at all time highs. GoNoGo Oscillator is in positive territory but not yet overbought after having found support at the zero level.

Treasury Rates Flash “Go Fish” Bars

GoNoGo Trend was unable to continue painting amber “Go Fish” bars as last week came to an end. As prices rallied from the most recent low, the indicator rolled out of “NoGo” colors and painted a couple of uncertain “Go Fish” bars. It will be important to note now in which direction the trend goes next. If it falls back into “NoGo” bars that could be a positive for stocks, if it transitions from amber to “Go” colors that could pose a problem. GoNoGo Oscillator is riding the zero line where we see the beginnings of a GoNoGo Squeeze building. The direction of the Squeeze break will likely determine price’s next trend.

Dollar Recaptures “Go” Trend

After a brief flirtation with a “NoGo” and a “Go Fish” bar, the dollar was able to regain “Go” colors albeit weaker aqua ones. This is an inflection point for the dollar, as we can see that GoNoGo Oscillator is back testing the zero line from below. The oscillator has been in negative territory for a few weeks now, so if the “Go” trend is to survive, it will need to break back into positive territory. If it does, we will likely see the “Go” trend strengthen. If it is rejected again at the zero level, then we will expect further struggles for price.

The weekly chart continues to show us how important these levels are. With price now trying hard to find support at prior high levels from over a year ago, GoNoGo Oscillator has crashed back to the zero line. We will watch to see if it finds support here. If it does, we will see a Go Trend Continuation Icon (green circle) under the price bar as an oscillator bounce back into positive territory will tell us that momentum is resurgent in the direction of the underlying “Go” trend.

0
FacebookTwitterGoogle +Pinterest
previous post
Three Stock Ideas as S&P 500 Treads Water
next post
Shaking seats and piped-in fog: How 4DX is carving out a niche moviegoing market

Related Posts

Ready To Level Up Your Options Trading?

May 1, 2025

Don’t Overlook This Lagging Industry; I Believe It’s...

July 7, 2025

Coinbase Stock Didn’t Crash, But the Trade Still...

March 21, 2024

The Mighty Have Fallen! TSLA and NVDA On...

March 15, 2024

Missed Disney’s Rally? Grab This Defined-Risk Put Spread...

July 3, 2025

Wyckoff at Work in the Intraday Timeframe

June 4, 2024

S&P 500 Breakdown Alert! Downside Targets Explained

January 13, 2025

The One Chart to Watch as S&P 500...

May 21, 2024

This Semi is a ROCKET With MORE UPSIDE

May 23, 2024

Week Ahead: NIFTY’s Behavior Against This Level To...

December 22, 2024

    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

      August 31, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      August 31, 2025
    • Epstein estate to hand over ‘birthday book’ to lawmakers, House Dem says

      August 31, 2025
    • Dyan Cannon denied White House entry after lying about her age on passport documents

      August 31, 2025
    • Israel eliminates Houthi prime minister in Yemen airstrike targeting senior government officials

      August 31, 2025
    • Sen. Bernie Sanders calls on RFK Jr. to resign following departure of CDC officials

      August 31, 2025

    Categories

    • Business (1,370)
    • Politics (4,370)
    • Stocks (1,619)
    • Uncategorized (45)
    • World News (1,363)
    • 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