Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Stocks

Stocks Get Defensive as Market Index Enters “NoGo”

by admin August 6, 2024
August 6, 2024
Stocks Get Defensive as Market Index Enters “NoGo”

Good morning and welcome to this week’s Flight Path. Equities could not hold onto “Go” colors any longer and we saw a strong purple “NoGo” bar as the trend changed on the last bar of the week. GoNoGo Trend painted strong blue “Go” bars for treasury bond prices while the trend remained a “NoGo” for U.S. commodities and the dollar, both painting strong purple bars as the week came to a close.

$SPY Falls into Strong “NoGo” Trend

Price gapped lower on Friday, and GoNoGo Trend painted a first strong “NoGo” bar. This came after a week where GoNoGo Oscillator had been below zero on heavy volume. Later in the week we saw the oscillator get rejected at that level as more sellers entered the market. We had also seen uncertainty in the trend with several amber “Go Fish” bars sprinkled in with the weaker aqua trend color. We will watch to see if the oscillator falls further into negative territory this week which would add downward pressure on price.

An inflection point has arrived on the weekly chart. A second weaker aqua bar tells us that the longer term trend continues to be weak after the last Go Countertrend Correction Icon (red arrow) told us price may struggle to go higher in the short term. GoNoGo Oscillator has fallen to test the zero line from above and we will watch to see if it finds support here at this level. A break into negative territory would likely signal a deeper correction.

Treasury Rates Crash to New Lows in “NoGo” Trend

This week we saw another uninterrupted string of purple “NoGo” bars as price fell every single day of the week. As the week progressed price accelerated its move to the downside. We now see that GoNoGo Oscillator is in oversold territory at an extreme value of -6.

The weekly chart below shows that price has fallen to test prior lows. A second weaker pink “NoGo” bar has pushed price down to horizontal levels that could provide support. We also see that GoNoGo Oscillator has fallen into oversold territory on the weekly chart as well at a value of -5.

The Dollar Reverts Back to “NoGo” Trend

After a lot of uncertainty last week, the dollar fell back into a “NoGo” trend this week with pink and purple bars. On the last day of the week, price gapped lower and is now testing support from earlier lows that we see in the chart. GoNoGo Oscillator broke out of a Max GoNoGo Squeeze on heavy volume as well which tells us that momentum is resurgent in the direction of the “NoGo” trend. We will watch to see if price can fall to new lows this week.

0
FacebookTwitterGoogle +Pinterest
previous post
Mike Johnson mounts 20-state blitz to keep House red as GOP braces for Harris VP reveal
next post
Google loses antitrust case over search

Related Posts

S&P 500 Equal Weight ETF Gains Strength

August 1, 2024

RRG Update: Is Tech Ready to Break Out?

June 13, 2025

S&P 500 Final 2024 Q4 Earnings: Still Overvalued

April 11, 2025

United Airlines Stock Soars: Watch For a Promising...

October 17, 2024

Is This ADX Pattern a Warning Sign for...

January 3, 2025

Two EASY Ways to Find the Strongest Stocks...

April 26, 2025

DP Trading Room: Natural Gas (UNG) Breaks Out!

December 31, 2024

S&P 500 Sectors Play Musical Chairs: How To...

February 8, 2025

S&P 500 Breaking Out Again: What This Means...

July 25, 2025

How to Trade Gaps Up (and Down) After...

October 26, 2024

    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

    • ‘So many lies’: Schumer ambushes GOP with surprise Epstein files amendment

      September 11, 2025
    • Two Republicans join Dems to save Schumer’s surprise push to force release of Epstein files

      September 11, 2025
    • Charlie Kirk’s assassination latest case of conservatives being targeted for murder

      September 11, 2025
    • Dozens of Democrats mutiny must-pass defense bill over GOP priorities

      September 11, 2025
    • Charlie Kirk assassination sparks bipartisan uproar over political violence as Utah manhunt underway

      September 11, 2025

    Categories

    • Business (1,103)
    • Investing (3,014)
    • Politics (3,682)
    • 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