XOP’s Strength vs. the S&P’s Weakness | GoNoGo Charts

Tyler Wood, CMT examines a return to strong “Go” conditions in the US Dollar index (UUP) and US Treasury rates ($TNX) on both the daily and weekly timeframes. The trend following model is clearly to the upside, but momentum has not shown up to support a runaway rally, yet. Attention to GoNoGo Oscillator will give further credence or challenge the current trend conditions. At the equity index level, the S&P 500 (SPY) daily has corrected its neutral “GoFish” conditions of last week and returned to NoGo on the daily basis.

  • 00:00 Intro
  • 00:39 S&P 500 ETF (SPY), 10-Year Treasury Yield ($TNX), US Dollar Index (UUP)
  • 09:15 United States Oil ETF (USO), Gold Trust (GLD), Russell 2000 ETF (IWM)
  • 15:21 S&P 500 ETF (SPY)
  • 19:40 S&P Oil & Gas Exploration & Production ETF vs. S&P 500 ETF (XOP:SPY)
  • 21:35 Canadian Natural Resources (CNQ), Delek US Holdings (DK), HF Sinclair Corporation (DINO)
  • 26:23 Northern European Oil Royalty Trust (NRT)


#RelativeStrength $SPY $TNX GoNoGo Asset Class HeatMap GoNoGo Charts GoNoGo Heat Map GoNoGo Trend S&P 500

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