After a multi month “NoGo” that saw lower lows and lower highs, $NDAQ has entered a new “Go”.
As price failed to go lower mid November, we saw GoNoGo Oscillator rise to test the zero line from below where we watched to see if it would get rejected as expected in a healthy “NoGo” trend. This did not happen, and as it broke into positive territory we saw GoNoGo Trend paint consecutive amber “Go Fish” bars representing uncertainty. As the Oscillator rose on heavy volume we finally saw the “Go Fish” give way to aqua “Go” colors as a new trend emerged. With price testing prior highs we saw it fall immediately, and GoNoGo Oscillator once again test the zero line but this time from above, looking for support. Support was quickly found with the oscillator bouncing off zero on heavy volume as GoNoGo Trend paints a strong blue “Go” bar. This triggered a Go Trend Continuation Icon (green circle) and with momentum resurgent in the direction of the new “Go” trend we will watch to see if price can climb to new higher highs in the coming days and weeks.
