GoNoGo Squeeze building on Sensex Index

9

March 2021

By

Alex Cole

The GoNoGo chart for the Sensex index shows the GoNoGo Oscillator is riding the zero line.

The longer it stays at zero the more extreme will be the climbing grid of the GoNoGo Squeeze.  The “Go” trend has been strong and in place for several months and so this is an important juncture.
If the oscillator can break out of the Squeeze to the upside into positive territory then that may give price the momentum it needs to make an attack on the prior high from February 16th.  If it cannot hold the zero line and breaks out of the squeeze to the downside, this spells trouble for the “Go” trend.