$GLW has been in a “Go” trend since the beginning of May.
After a series of higher highs and higher lows, we saw highs in late June that were then followed by a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, we saw GoNoGo Trend then paint a series of weaker aqua bars. During this time, GoNoGo Oscillator fell to test the zero level where it remained for several bars. A GoNoGo Squeeze formed as price volatility shrank and we watched for the direction of the break. On the last bar, GoNoGo Oscillator has broken the Squeeze into positive territory as price has gapped to new highs. With momentum resurgent in the direction of the “Go” trend, we will look for price to consolidate these gains and look to climb higher.
