Alex takes the GoNoGo approach to the markets this week as he looks at the GoNoGo Asset map, noting the NoGo Trends in equities and commodities, while the dollar holds on to its “Go” trend. After running through macro charts of 10year rates, the dollar, Gold and Oil, The struggles of regional banks are discussed and risk management approach advised when looking at a chart such as that of $KRE. Looking to capitalize a “NoGo” trade in $GS is also discussed. Alex opens up the GoNoGo Sector RelMap and sees that there is break up in the map this week as markets are uncertain. One area of strength is in Technology with the sector outperforming the index as a whole. Digging into tech, we see that semiconductors remain in a relative “Go” trend and so Alex pulls up a chart from an early week research piece of $NVDA.
- S&P 500 ETF Trust SPY, 10-Year Treasury Yield TNX, US Dollar Index Bullish Fund UUP
- Gold Trust GLD, United States Oil ETF USO, S&P Regional Banking ETF KRE
- Goldman Sachs GS, S&P 500 ETF Trust SPY, NVIDIA NVDA
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