On this week’s GoNoGo show, Alex and Tyler take a top down approach to the technical market environment following the SVB collapse and the Fed’s 25bps hike. A GoNoGo Cross Asset Heat Map helps understand the intermarket factors that could impact equity performance. Treasury rates ($TNX), the US dollar (UUP), and oil (USO) are all falling in NoGo trends. Very recently, gold (GLD) and bitcoin (BTCUSD) rallied into Go trends. Digging into the equity sectors Alex and Tyler review the relative outperformance of technology and then within the tech sub groups the strength of semiconductors. This leads to a discussion of $NVDA that is hitting new highs. Finally, Alex and Tyler discuss the situation with regional banks and the financial sector with commentary on how best to use GoNoGo Charts from a risk control perspective.
S&P 500 ETF SPY, 10 Yr Treasury Yeild TNX, US Dollar Index UUP
Gold Trust GLD, United States Oil USO, Bit Coin $BTCUSD
Dow Jones U.S. Semiconductors IDJUSSC, NVIDIA NVDA, Financial Sector XLF
S&P Regional Banking ETF KRE