Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Stocks

EQUITIES HIT ALL TIME HIGHS AS TECHNOLOGY JOINS LEADERSHIP GROUPS

by May 21, 2024
May 21, 2024
EQUITIES HIT ALL TIME HIGHS AS TECHNOLOGY JOINS LEADERSHIP GROUPS

Good morning and welcome to this week’s Flight Path. The “Go” trend in equities is well and truly back as we saw a string of uninterrupted blue bars this week and price hit a new all time high. Treasury bond prices entered a weak “Go” trend which is perhaps bad news for rates as we’ll see in a moment due to the inverse relationship. The U.S. commodity index continued to show market uncertainty as it ended the week with another amber “Go Fish” bar. The dollar maintained its “Go” trend but we saw some weakness as this week GoNoGo Trend painted a majority of aqua bars.

$SPY Hits New All Time Highs

The “Go” trend we spied last week really took off this week as we saw a week of uninterrupted strong blue bars and price high all time highs midweek. GoNoGo Oscillator fell out of overbought territory and that caused a Go Countertrend Correction Icon to appear on the chart which tells us price may struggle to go higher in the short term. Now at a value of 4, momentum is positive and in the direction of the underlying “Go” trend. We will look for price to find support and consolidate above prior highs.

The larger weekly chart shows that after several weeks of pullback, coming after the Go Countertrend Correction Icon that we saw over a month ago, the trend has once again strengthened as GoNoGo Trend once again paints strong blue bars. GoNoGo Oscillator bounced sharply off the zero line which helped confirm the “Go” trend and with momentum resurgent in the direction of the “Go” trend we saw price hit a new high this week.

Rates Enter “NoGo”

GoNoGo Trend saw the weakness we noted last week turn into a new “NoGo” trend. After GoNoGo oscillator entered negative territory a couple of weeks ago we could infer that the “Go” trend was no longer healthy. After a long run of weaker aqua “Go” bars we saw the trend give way this week and a mix of pink and purple “NoGo” bars. Now, with GoNoGo Oscillator approaching the zero line from below, we will watch to see if this trend can hold.

Dollar Remains in “Go” but Struggles

The”Go” trend remained in place this week but we saw a majority of weaker aqua bars as price made a new lower low. GoNoGo Oscillator has been rejected by the zero line twice since first crossing into negative territory and now is steadily falling. This is a concern for the “Go” trend in this periodicity and we will watch to see if this week brings a change in technical environment.

0
FacebookTwitterGoogle +Pinterest
previous post
Clean Energy & Precious Metals Hybrid Investor Conference Agenda Announced for May 23rd
next post
DP Trading Room: What’s Up With Semiconductors?

Related Posts

MEM TV: Wait For This Before Getting Back...

April 27, 2024

Analyzing SIL, USO, and NVDA: Could These Bullish...

May 30, 2025

Nasdaq’s Leadership Is Clear – Here’s What Needs...

November 11, 2023

Santa May Be Warming Up His Sled; What’s...

November 6, 2023

How to Find Compelling Charts in Every Sector

July 11, 2025

Three Charts to Track Impending Doom

January 6, 2024

MEM TV: The Easy Way to Uncover Stocks...

January 13, 2024

Transform Your Investing Strategy: Uncover the 3 Game-Changing...

March 11, 2025

Intel’s Rising SCTR Score: Why You Should Add...

February 14, 2025

Watch the Ebb and Flow — This Market...

July 21, 2023

    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.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Lithium Market Update: Q3 2025 in Review

    • Despatch of SPP Offer Documents

    • Crypto Market Update: FalconX to Buy 21Shares, Senate Democrats Call Out Trump Envoy

    • Apollo Silver

    • Blackrock Silver Commences Phase 2 Hydrology Program, Geotechnical Evaluation and Seismic Survey on the Tonopah West Project

    Categories

    • Business (1,401)
    • Investing (3,062)
    • Politics (3,699)
    • Stocks (1,828)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.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 moneycontrolplace.com | All Rights Reserved