Alex and Tyler walk through a GoNoGo HeatMap which highlights that commodities are the asset class leader. Interestingly, Bitcoin is finally striking “Go” conditions on the daily chart. US Equities still hovering at an inflection point. Overall “NoGo” Conditions for the trend of the S&P500, but GoNoGo Oscillator breaking through the zero line. We’ll see if positive momentum can carry markets higher.
Recorded Thursday morning Feb 10, 2022, Tyler and Alex share insights from the bond market’s reaction to CPI data reported this morning. Inflation jumped 7.5% yr/yr - more than economists expected, and posting the largest gain in 40 yrs as well as acceleration from the 7.0% year-over-year increase seen in December. GoNoGo Charts look to the Financials and Energy sectors for strong relative and absolute Go trends in this rising rate environment. Ten-year yields break out above 2% as the $TNX paints strong “Go” trend conditions. This is your weekly GoNoGo Show.
00:00 - Intro
01:12 - Asset Class Heat Map GoNoGo Trend
04:09 - CPI Data Reported, Inflation Rising, 10-Year Treasury Bond Yield
07:15 - Trend Perspective of S&P 500 ETF
10:04 - Financial Sector (XLF)
14:16 - Bank of America (BAC)
15:51 - Energy Sector (XLE)
17:23 - Marathon Oil (MRO), Devon Energy (DVN)
19:25 - Meta (FB)
24:09 - Bitcoin ($BTCUSD)
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