$VRT has fallen out of its “Go” trend and for the past week has painted a mix of colors.
At the most recent high, we saw a Go Countertrend Correction Icon (red arrow) that suggested price may struggle to go higher in the short term. That was followed by the “Go” trend ending, with the indicator painting some amber “Go Fish” bars. At the same time, GoNoGo Oscillator was unable to find support at the zero line and fell into negative territory. Now, as GoNoGo Trend paints predominantly “NoGo” bars, GoNoGo Oscillator has risen to test the zero line from below. We will watch to see if it finds resistance at this level. If it does, that would tell us that momentum is resurgent in the direction of the new “NoGo” trend and we could expect price to fall to new lows.
