Mar. 11, GoNoGo Charts, Alex Cole and Tyler Wood, CMT take a look at GoNoGo Trend® conditions of several areas of the market. The recent breakout in Gold has much room to run, treasury rates ($TNX) and the US Dollar Index (UUP) have cooled back into NoGo conditions. This week we will look closely at the rotation of the markets. A major shift between leaders and laggards is underway as growth equity sectors like XLK and XLC have given way to cyclicals such as XLB, and XLI. Alex and Tyler dig deeper into the industry group level to see paper and commodity chemicals leading the materials sector (XLB) higher. Finally, Alex and Tyler explain the importance of the GoNoGo Oscillator and the objective zero line and what to watch for next in terms of trend continuation and opportunities to enter on pullbacks.
- 00:00 Introduction
- 00:56 S&P 500 ETF (SPY), 10-Year Treasury Yield ($TNX), US Dollar Index (UUP)
- 08:47 SPDR Gold Shares (GLD), Bitcoin to US Dollar ($BTCUSD), S&P 500 ETF (SPY)
- 15:31 United States Oil ETF (USO), S&P 500 ETF (SPY), Dow Holdings (DOW)
- 23:21 Minerals Technologies (MTX), Linde plc (LIN), International Paper Co (IP)
- 26:45 Glafelter Corp (GLT)
