$DE has been in a “NoGo” trend since August.
However, there are reasons for us to pay close attention to the industrials sector stock over the next few days and weeks. As price has rallied off the most recent low we can see that GoNoGo Trend painted an amber “Go Fish” bar a few days ago. This shows us some uncertainty regarding the health of the “NoGo” trend as not enough criteria were met on that day to continue to paint “NoGo” bars. If we turn our eye to the GoNoGo Oscillator panel, we can see that at the end of the last “Go” trend and during the “NoGo” trend directional momentum was confirmed to the downside as the Oscillator broke out of a pair of Max GoNoGo Squeeze’s. This last time, as GoNoGo Oscillator rode the zero line reflecting the tug of war between buyers and sellers the Oscillator has broken the Max GoNoGo Squeeze into positive territory. This tells us that momentum is no longer on the side of the “NoGo” but surging in the other direction. We will watch to see if this rush of positive momentum will be enough to push GoNoGo Trend to start a new “Go” trend.
