$ED was in a “NoGo” trend since the middle of April.
We saw GoNoGo trend paint pink and purple bars as price made lower lows and lower highs. During this time, GoNoGo Oscillator was primarily at or below the zero line, getting rejected at that level each time it was tested. Most recently, as price rallied from the latest low, we saw GoNoGo Oscillator again rise to challenge the zero line and we saw it remain there in a battle between bulls and bears as a GoNoGo Squeeze formed. As market uncertainty crept in, in the form of an amber “Go Fish” bar of uncertainty, we saw GoNoGo Oscillator break out of the Squeeze into positive territory and GoNoGo Trend then paint a first aqua “Go” bar. Now, with a new trend in place, we know that momentum is on the side of the “Go” trend, having regained positive territory at a value of 1. We will watch to see if this new trend and the boost in momentum will give price the push it needs to set a new higher high in the coming days.
