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

Money Control Place

Stocks

COMMUNICATIONS SECTOR JOINS TECHNOLOGY SECTOR TO HELP BUOY EQUITY MARKETS

by July 2, 2024
July 2, 2024
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.

0
FacebookTwitterGoogle +Pinterest
previous post
AAPL and TSLA Kick Off Q2 With BREAKOUTS!
next post
Hunter Biden sues Fox News under New York’s ‘revenge porn’ law

Related Posts

Use These Indicators To Help With Exits

July 21, 2023

Top Five Charts of 2023 #5: Bitcoin

December 22, 2023

Cutting-Edge Seasonality Insights & Bitcoin 2024 Halving Impact

November 17, 2023

Why are Higher Interest Rates a Big Deal?

November 8, 2023

Week Ahead: NIFTY May Stay Vulnerable At Higher...

October 7, 2023

This Stock is up a Startling 90% This...

December 28, 2023

Market Begs: Tell Us Something Good!

September 27, 2023

Technology Shares SOAR to New All-Time Highs

July 4, 2024

SPY Resting At Support, But Financials Are Showing...

January 5, 2024

Fed’s Rate Pause: Does It Really Change the...

June 15, 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

    • Run Your Stock Portfolio Like a Pro Sports Team

    • Leadership Rotation Could Confirm Corrective Phase

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

    • 1911 Gold Temporarily Suspends Operations at True North Complex due to Bissett Evacuation Order

    • Ontario Backs Down on Key Bill 5 Provisions, Echoes BC’s Mining Debate

    • Appeals Court Grants Trump Temporary Reprieve on Tariffs, “TACO” Taunts Gain Steam

    Categories

    • Business (1,223)
    • Investing (2,503)
    • Politics (3,699)
    • Stocks (1,614)
    • 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