In this week’s edition of the GoNoGo Charts show, Alex and Tyler examine the weight of the evidence and use GoNoGo to react responsibly to market trends. S&P 500 trends are in NoGo conditions across weekly, daily, and intraday timeframes. US Interest rates ($TNX) decisively broke out above July resistance on strong “Go” conditions. Higher rates have been headwinds for equities as investors digest further rate hikes from the Fed. Similarly, the US Dollar index (UUP) gapped higher today, accelerating the trend towards highs last seen in 2002. Oil (USO) is in a strong “NoGo” and diversified commodities (USCI) have fallen out of the Go trend to a neutral amber bar today.
This video was originally recorded on September 1, 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!
About the author: Alex Cole, CEO and Chief Market Strategist at GoNoGo Charts, is a market analyst and software developer. Over the past 15 years, Alex has led technical analysis and data visualization teams, directing both business strategy and product development of analytics tools for investment professionals. Alex has created and implemented training programs for large corporations and for private clients. His teaching covers a wide breadth of Technical Analysis subjects from introductory to advanced trading strategies. Learn More
About the author: Tyler Wood is the Chief Operating Officer of GoNoGo Charts and a seasoned business executive who has led the operational and business development activities of teams large and small. As an executive manager over the past 20 years, he built and brought products to market in the educational technology space and financial services industry. As the Managing Director of the CMT Association for over a decade, Tyler has presented the tools of technical analysis around the world to investment firms, regulators, exchanges, and broker-dealers. Galvanizing vendors, volunteers, and demanding stakeholders around a common vision, Tyler designed and implemented policies and programming that raised the standards for professional technical analysis worldwide. Learn More
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