$JPM has been in a “Go” trend since late April.
During that time we have seen higher highs and higher lows with GoNoGo Trend painting a majority of strong blue bars. GoNoGo Oscillator has been at or above zero during this run confirming the positive price action. Recently after the last higher high, we saw a Go Countertrend Correction Icon (red arrow) telling us that price may struggle to move higher in the short term. Indeed, we see price moved mostly sideways on weaker aqua bars. As the trend weakened, we see that GoNoGo oscillator fell to test the zero line again and we saw a Max GoNoGo Squeeze take shape reflecting a tug of war between buyers and sellers at this level. Now, with the Oscillator breaking out of the Squeeze into positive territory and GoNoGo Trend painting strong blue bars again, we see that price is back testing the prior high. With Go Trend Continuation (green circle) we will see if this momentum resurgence in the direction of the “Go” trend will be enough to push price to a new higher high.
