$RJF has been in a “Go” trend since early May.
We saw a new high soon after that but multiple Go Correction Icons (red arrows) indicated that price would struggle to go higher in the short term. Indeed, that is what we saw. Price moved mostly sideways for several weeks following, but importantly, GoNoGo Oscillator mostly held the zero line as we saw multiple Max GoNoGo Squeeze’s. Having broken out of the last Squeeze the oscillator raced higher into positive territory and that helped give price the boost it needed to set a new high and push past resistance on strong blue “Go” bars. Having set a new high, we see the concept of polarity playing out as price uses what was resistance now for support. GoNoGo Oscillator is bouncing off zero back into positive territory again as price paints a strong blue “Go” bar. We will watch to see if this helps price climb even higher in the coming week.
