In this week’s GoNoGo Show, Alex and Tyler review Wednesday’s upside move in the context of a persistent “NoGo” trend in US Equities, Commodities, and bond prices. The continued “NoGo” trend conditions on the daily and weekly charts are only further confirmed by macro forces like rising interest rates ($TNX) and the persistent “Go” trend in the US Dollar index (UUP). The parabolic move in the US Dollar index has corrected, but remains in trend.
Relative trend performance from the Financials (XLF) Energy (XLE), Consumer Staples (XLP), Healthcare (XLV), and Utilities (XLU) sectors remain in “Go” conditions. Alex and Tyler review the Consumer Discretionary (XLY) sector as well which has held up relative to the S&P500 (SPY) and examine a couple of holdings including Avis Budget (CAR) and Home Depot (HD).
Join Alex Cole and Tyler Wood next week on Tuesday, Oct 11, 2022, at 11:00 am EDT Forecasting Follies: React Responsibly to Market Moves
Registration is Required, but FREE: https://www.wealth365.com/gonogo/ Join Alex and Tyler at 11am OCT 11th for a fresh look at market trends.
00:00 - Intro
00:58 - GoNoGo Asset Class Heat Map
02:00 - SPY - Daily, Weekly, 2hr
08:35 - $TNX - Daily
10:05 - USD - UUP daily then weekly
12:08 - USO - Continued NoGo
13:50 - Agriculture Fund (DBA)
18:46 - GoNoGo Sector RelMap - call out XLY & XLF & XLU
20:45 - XLY - NoGo Daily
23:00 - Avis Budget Group (CAR) - Daily & Weekly
LEARN MORE ABOUT THE GONOGO ACP PLUGIN
Free Starter Plugin: https://schrts.co/eusTWbIv
Full Featured Plugin Pack: https://schrts.co/eedGrjvJ