Connect with us

Hi, what are you looking for?

Stock

COMMUNICATIONS SECTOR JOINS TECHNOLOGY SECTOR TO HELP BUOY EQUITY MARKETS

Good morning and welcome to this week’s Flight Path. “Go” bars were the order of the week again for U.S. equities and the end of the week saw a return to strong blue bars. Treasury bond prices also were able to maintain “Go” bars but ended the week showing weakness. U.S. commodity index painted a full week of weaker aqua “Go” bars while the dollar continued to show strength with strong blue bars.

$SPY Remains in “Go” Trend but Struggles with New Highs

Price hit an intra week high again this week but we saw Friday close lower. GoNoGo Trend painted strong blue bars at the end of the week and so we know the trend remains strong. GoNoGo Oscillator has fallen from overbought territory and volume is light as it crashes toward the zero line. So, we have momentum waning but price holding on to trend. We will watch to see what happens as the oscillator gets to zero and we will look for it to find support if the trend is to remain healthy.

Price crept higher this week and we saw another strong blue “Go” bar which makes it 8 in a row. GoNoGo Oscillator has peaked but is still overbought at a value of 5. We will look to see if momentum continues to wane and if so we’ll see a Go Countertrend Correction Icon (red arrow) that will indicate a likely pause and a struggle for prices to go higher in the short term.

Treasury Rates Still in “NoGo” Trend but Paints Weaker Pink Bars

Treasury rates climbed this week after last week’s low and we see that GoNoGo Trend paints a few weaker pink bars. The weight of the evidence still points to a “NoGo” trend but we will watch to see if it holds this week. GoNoGo Oscillator has rallied and is testing the zero level from below. If it is rejected here, we will likely see a new leg down in price.

Dollar Sees Continued Strength as Price Makes New Highs

Price hit new highs this week and GoNoGo Trend painted a week of uninterrupted strong blue “Go” bars. We will look for price to consolidate at these levels using support from prior highs in May. GoNoGo Oscillator has flatlined at a value of 3 and so is in positive territory but not yet overbought. Volume is heavy.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    Britain’s Prince and Princess of Wales have released a new photo of Prince Louis to mark his sixth birthday on Tuesday, the first image...

    Investing

    Overview Energy Fuels( TSX:EFR, NYSE:UUUU) has been the largest producer of uranium and vanadium in the United States and an emerging producer of rare...

    Editor's Pick

    There is no trial in recent history, or possibly all of American history, that can rival the one underway in Lower Manhattan. For the...

    Latest News

    President Joe Biden travels to Triangle, Virginia, Monday to mark Earth Day, where he’ll unveil $7 billion in grant funding for solar power under...

    Disclaimer: Dealwithbiz.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 © 2024 Dealwithbiz.com