S&P 500 at crucial moment

S&P 500 at crucial moment


November 2021


Alex Cole

Crucial moment for S&P 500 as price comes off its high.

Price has retreated from its high over the last two bars.  The most recent bar sees the GoNoGo Trend weaken to an aqua "Go" bar.  GoNoGo Oscillator has fallen to the zero line where we will look to see if it finds support.  If the "Go" trend is healthy, GoNoGo Oscillator should find support at the zero line because in theory there should be no oversold conditions.  If the objective support level holds, we will see a Go Trend Continuation green circle appear under price and expect price to mount an attack on prior highs.