GoNoGo Charts combine a broad scope of the most widely used technical indicators to provide a weight of the evidence perspective on Trend, Momentum, Volume and Volatility. Within the “NoGo” environment for equities many investors have “anticipatory excitement” about the potential bottom in price and a chance to buy-in aggressively. Alex and Tyler walk through multiple scenarios – both bullish and bearish – to explore what signals would need to be present on GoNoGo Charts for new long opportunities. Specifically within the XLC communications sector and the chart of Netflix NFLX, the markets reached an inflection point, but rolled over to the downside. Whereas Chinese and Hong Kong ETFs MCHI and EWH have shown absolute and relative “Go” trends against the S&P500 on a daily time frame. Starting from a top-down analysis of Gold, USD, and Treasury Yields Alex and Tyler explore many of the headwinds for equity investors.
Join Alex and Tyler Friday, July 15 at 2pm for a discussion of Relative Strength at the Wealth365 Virtual Investment Conference – www.Wealth365.com/gonogo
00:00 - Intro
01:36 - GoNoGo Asset Class Heat Map
02:25 - Gold (GLD) - continues to drive lower (Daily)
05:17 - US Dollar (UUP) (Weekly, then Daily)
09:20 - US Treasury Yields ($TNX)
11:53 - Emerging Markets (EEM) - (Weekly, then Daily)
13:00 - Ex US RelMap
14:45 - MCHI China (MCHI) - Daily and Weekly
18:15 - GoNoGo Sector RelMap
21:39 - Communication (XLC) - Relative Trend = "less weak"
23:43 - Netflix (NFLX) - Basing? NOPE! Daily
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