GoNoGo Charts allow investors to take the emotion and guesswork out of investing. Alex and Tyler examine the weight of the evidence and use GoNoGo to react responsibly to market trends. S&P 500 trends are in NoGo conditions across weekly, daily, and intraday timeframes. US Interest rates ($TNX) decisively broke out above July resistance on strong “Go” conditions. Higher rates have been headwinds for equities as investors digest further rate hikes from the Fed. Similarly, the US Dollar index (UUP) gapped higher today, accelerating the trend towards highs last seen in 2002. Oil (USO) is in a strong “NoGo” and diversified commodities (USCI) have fallen out of the Go trend to a neutral amber bar today.
00:00 – Intro
01:02 – SPY Daily
01:52 – SPY Weekly
06:11 – GoNoGo Asset Class Heat Map
07:01 – $TNX – Daily
09:48 – USD – UUP daily then weekly
12:02 – USO – Continued NoGo
13:40 – USCI
15:05 – GoNoGo Sector RelMap – call out XLK and XLY & XLI & XLU
17:01 – XLE
18:11 – XLE:SPY
18:55 – Financial Select Sector (XLF), CF Industries Holdings (CF)
21:40 – BTCUSD
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