With Equities recovering this week, Alex and Tyler look at what they would like to see happen from a momentum perspective to have faith in the “Go” trend. Even with the “Go” in place, it is the defensive, not the offensive players, that are on the field as sectors such as materials and utilities continue to outperform those such as technology on a relative basis as seen on the GoNoGo Sector RelMap. That being the case, Alex walks through specific GoNoGo Charts of technology, Netflix, materials, U.S. Steel, utilities, and NRG.
00:00 - Introduction
01:00 - Cross Asset Comparison - GONOGO HEATMAP
05:55 - Equity Sectors Relative Strength - GONOGO RELMAP
07:25 - Technology Select Sector (XLK), Netflix (NFLX)
14:16 - Materials Select Sector (XLB), US Steel (X)
20:53 - Utilities Select Sector (XLU), NRG Energy (NRG)
Join Alex and Tyler for more education at the METASTOCK Traders Conference throughout the week of May 16-20, 2022 - https://tinyurl.com/GoNoGoMSMay22
Whether you are trying to better understand cross-asset relationships, generating trade ideas, making security selection and allocation decisions, or managing an individual trade, GoNoGo Charts will help you eliminate analysis paralysis and keep your focus on Price, without losing sight of the complete technical picture. By blending objective principles of technical analysis and the most widely used statistical measures, GoNoGo Charts remove “indicator overload.” Investors remain focused on what matters most – price – while the colors of each bar or candle reflect the strength of the trend.
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