$BAC enters “Go” trend as financials outperform

$BAC enters “Go” trend as financials outperform


January 2023


Alex Cole

GoNoGo Sector RelMap over the past few weeks has shown the financials sector in a relative "Go" trend to the base index.

The chart of $BAC below shows that the bank could be ready to take advantage of that as it paints a first aqua "Go" bar.  GoNoGo Oscillator broke above the zero line at the beginning of the year and now we see a critical moment as it retests zero from above.  If the oscillator finds support here and rallies into positive territory that could give price the momentum it needs to push the new "Go" trend to new highs.