$ADP has been in a “Go” trend early this month.
We have seen a strong run of bright blue bars as price has moved higher, taking out the high from March. This fast move came after GoNoGo Oscillator broke out of a couple of Max GoNoGo Squeeze’s into positive territory. This suggested a quick, powerful move. Since then, GoNoGo Oscillator has been in positive territory and has breached overbought levels. Now, we see Go Countertrend Correction Icons (red arrows) at these current prices indicating waning momentum and telling us that price may struggle to go higher in the short term. We will look for price to find support at the recent levels that lined up with the March high, and pay close attention should the oscillator drop to test the zero line. If it finds support, then we will expect signs of Go Trend Continuation.
