Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Stocks

EQUITIES HIT ALL TIME HIGHS AGAIN WITH TECHNOLOGY IN THE DRIVING SEAT

by admin June 18, 2024
June 18, 2024
EQUITIES HIT ALL TIME HIGHS AGAIN WITH TECHNOLOGY IN THE DRIVING SEAT

Good morning and welcome to this week’s Flight Path. Equities remained very strong this week as we saw a continued string of bright blue bars and a new price high. Treasury bond prices saw a surge in strength in the second half of the week as we see a return to bright blue bars. Commodities try to convince us that this time they’ve made up their mind and entered a “Go” trend on strong blue bars. Finally the dollar, after some uncertainty this week, closed with a strong blue “Go” bar as well.

$SPY Paints Strong Blue “Go” Bars at All Time Highs ( No Change this week!)

Not only did we see the “Go” trend continue this week but we saw price gap higher mid week and nothing but strength with GoNoGo Trend painting strong blue bars. When we turn our eye to the oscillator panel, we see that momentum is coming off an extreme of overbought. At a value of 5 but falling, we may well see a Go Countertrend Correction Icon (red arrow) appear above price informing us that it may struggle to go higher in the short term. We will pay attention to this and look to see if support is found at the gap.

The larger weekly chart shows that the “Go” trend remained very strong this week as we see a strong blue bar setting another higher weekly close.  GoNoGo Oscillator has climbed to its max of 6. We will watch closely to see if this market enthusiasm can be maintained or if there is any waning of momentum which would cause a Go Countertrend Correction icon to appear on the chart above price.

Treasury Rates Set new Lower Low in “NoGo” Trend

After a brief relief rally that set a new lower high, we saw price fall through the second half of the week. GoNoGo Trend returned to paint more strong purple “NoGo” bars and price made a new lower low. We were alerted to this trend continuation mid week as GoNoGo Oscillator rose to test the zero line from below and was turned away. Now, with the “NoGo” firmly in place, we see that momentum is resurgent in the direction of the underlying trend. The oscillator is at a value of -3, not yet oversold.

Dollar Makes a Move after Uncertainty

After a few “Go Fish” bars, amber bars that reflect market uncertainty, we saw the dollar paint a couple of aqua bars this week before a strong blue “Go” bar was painted on Friday. Thursday’s “Go” bar was impressive, with its trading range completely engulfing that of the day before. This is known as a bullish engulfing pattern, and suggests higher price moves over the near term. Friday’s gap higher is above prior high levels and it will be important to note if we can consolidate at these levels. GoNoGo Oscillator is in positive territory on heavy volume after bouncing off the zero line.

The weekly chart shows a return to strength this week. GoNoGo Trend painted a strong blue “Go” bar as price challenges prior highs. GoNoGo Oscillator bounced off the zero line last week giving us signs of Go Trend Continuation (green circle). Now, momentum is positive and moving higher at a value of 3.

0
FacebookTwitterGoogle +Pinterest
previous post
DP Trading Room: Natural Gas (UNG) Bearish Again?
next post
NVDA Wreaks Havoc on Technology Benchmark

Related Posts

5 New Year’s Resolutions to Transform Your Financial...

December 28, 2024

Why This S&P Support Level is SO IMPORTANT

October 10, 2024

American Association of Individual Investors (AAII) Breaks Record

March 22, 2025

Unlock the Power of StockCharts’ NEW Market Summary...

May 13, 2025

This Industry Just Broke Out And Is Poised...

November 15, 2024

The SCTR Report: Why PLTR Stock Remains a...

May 1, 2025

Week Ahead: NIFTY Show Evident Signs of Fatigue;...

June 25, 2024

This Is How I Crush The Benchmark S&P...

February 20, 2025

Strongest Top 3 S&P 500 Stocks: Will They...

January 3, 2025

Joe Rabil’s Undercut & Rally Pattern: From DROP...

June 19, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


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

    Recent

    • Biden didn’t want intel disseminated showing Ukrainian concerns over family’s ‘corrupt’ business ties: records

      October 8, 2025
    • Cruz clashes with Nigeria over his claims 50,000 Christians killed since 2009 in religious violence

      October 8, 2025
    • House committee withdraws James Comey subpoena for Jeffrey Epstein testimony

      October 8, 2025
    • Government limps deeper into shutdown crisis with no deal in sight

      October 8, 2025
    • Trump meets former Hamas hostage Edan Alexander on Oct. 7 anniversary

      October 8, 2025

    Categories

    • Business (1,116)
    • Investing (3,206)
    • Politics (3,906)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.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 © 2025 sportinvestorsleague.com | All Rights Reserved