$WSM has been in a “NoGo” trend since late February.
Since then we have seen a series of lower highs and lower lows. During the trend, GoNoGo Oscillator has been at or below the zero line and volume has been mostly heavy. Both of these things helping to confirm the underlying “NoGo” trend. After a strong rally on the prior bar, price was not able to set a new higher high yesterday. This coincided with GoNoGo Oscillator testing the zero line from below. It has been rejected at that level and we see a NoGo Trend Continuation Icon (red circle) above the price bar. We will watch to see if this resurgent momentum in the direction of the “NoGo” trend will push price to new lower lows.
