GoNoGo Charts combine a broad scope of the most widely used technical indicators to provide a weight of the evidence perspective on Trend, Momentum, Volume and Volatility. Within the “NoGo” environment for equities, many investors have “anticipatory excitement” about the potential bottom in price and a chance to buy-in aggressively. In this week’s edition of the GoNoGo Charts show, Alex and Tyler walk through multiple scenarios – both bullish and bearish – to explore what signals would need to be present on GoNoGo Charts for new long opportunities.
Specifically, within the XLC communications sector and the chart of Netflix (NFLX), the markets reached an inflection point, but rolled over to the downside, whereas the Chinese and Hong Kong ETFs, MCHI and EWH, have shown absolute and relative “Go” trends against the S&P 500 on a daily time frame. Starting from a top-down analysis of Gold, USD and Treasury Yields, Alex and Tyler explore many of the headwinds for equity investors.
This video was originally recorded on July 14, 2022. Click this link to watch on YouTube. You can also view new episodes – and be notified as soon as they’re published – using the StockCharts on demand website, StockChartsTV.com, or its corresponding apps on Roku, Fire TV, Chromecast, iOS, Android and more!
New episodes of GoNoGo Charts air on Thursdays at 3:30pm ET on StockCharts TV. Learn more about the GoNoGo ACP plug-in with the FREE starter plug-in or the full featured plug-in pack.
Join Alex and Tyler at the Wealth365 Investment Conference July 13th and 15th!