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

The Trader Harbor

Stocks

Equities Struggle As More Sectors Try To Keep the Trend Afloat

by admin July 30, 2024
July 30, 2024
Equities Struggle As More Sectors Try To Keep the Trend Afloat

Good morning, and welcome to this week’s Flight Path.

Equities had another tough week last week, and we saw an amber “Go Fish” bar for the first time since this latest “Go” trend began. Encouragingly, GoNoGo Trend painted a weak aqua “Go” bar on the last day of the week, but has the damage been done? Treasury bond prices also fell briefly out of the “Go” trend but also ended the week with an aqua “Go” bar. US commodities fell deeper into a “NoGo” as the indicator painted a strong purple bar. The dollar still cannot make up its mind, and we saw a string of “Go Fish” this past week.

SPY Manages To Maintain a “Go” for Now

Price has fallen further since the Go Countertrend Correction Icons that we saw at the top. This week, a “Go Fish” bar was painted as the market expressed its uncertainty. This comes as GoNoGo Oscillator crashed through the zero line into positive territory on heavy volume. We know that in a healthy trend, the oscillator should find support at that level, and so we know now that momentum is out of step with the “Go” trend. We will be wary of more price deterioration here.

A Hint of Weakness on the SPY Weekly Chart 

For the first time in almost three months, SPY did not close in a strong blue bar. We also note the Go Countertrend Correction Icon (red arrow) that appeared at the top. This suggests that price may struggle to move higher in the short term because momentum has waned. We will see if the oscillator finds support at zero as it gets closer.

Treasury Rates in “NoGo” but Paint Weak Pink Bars

This week, we saw a week of uninterrupted pink “NoGo” bars. Price seems to have set a new lower high as we ended the week lower. If we turn our eye to the GoNoGo Oscillator we can see that it is testing the zero line from below. If this NoGo trend is to remain in place we expect to see this level act as resistance. If GoNoGo Oscillator is turned away into negative territory we will look for price to make an attempt at new lows.

Continued Uncertainty for the US Dollar

We’ve been discussing uncertainty in the US dollar for a few weeks now. This week, we saw “Go Fish” bars dominate as price moved mostly sideways. The GoNoGo Oscillator is riding the zero line after rising to it from below. We see a GoNoGo Squeeze climbing to its Max. We will pay close attention to the direction of the break. If the oscillator breaks back into negative territory, then we will look for price to move lower.

0
FacebookTwitterGoogle +Pinterest
previous post
DP Trading Room: Spotlight on Mega-Cap Earnings
next post
Apple releases first preview of its long-awaited iPhone AI

Related Posts

Investing with the Trend: Appendix

June 14, 2024

Top Ten Charts for August: Two Tempting Consumer...

August 21, 2024

My Downside Target for the S&P 500

March 11, 2025

Surprise Negative Divergence on Nasdaq Advance-Decline Line

March 27, 2024

Key Support Levels Broken, BUT Breadth is Bullish!

March 14, 2024

A Half Point Fed Rate Cut? The Stock...

September 14, 2024

Tech Takes the Spotlight Again—Are You Watching These...

July 16, 2025

S&P 500 & Nasdaq Composite Approach Critical Resistance;...

April 28, 2024

What Would a Top in Semiconductors Mean for...

September 2, 2024

These Groups Just Turned BULLISH!

August 20, 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

    • Credit card startup Imprint beats big banks for Rakuten co-brand deal

      July 24, 2025
    • Businesses are cautiously spending on corporate travel as trade uncertainty looms

      July 24, 2025
    • Lawsuit says Clorox hackers got passwords simply by asking

      July 24, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      July 24, 2025
    • A Wild Ride For the History Books: 2025 Mid-Year Recap

      July 24, 2025
    • Is META Breaking Out or Breaking Down?

      July 24, 2025

    Categories

    • Business (1,303)
    • Politics (4,070)
    • Stocks (1,541)
    • Uncategorized (45)
    • World News (1,296)
    • 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