In this week’s edition of the GoNoGo Charts show, Alex and Tyler explain some risk-on behavior this week as U.S. domestic equities paint a first aqua “Go” bar. An analysis of the GoNoGo Sector Relmap shows rotation into growth sectors like technology and discretionary and away from defensive sectors such as utilities, staples and healthcare. The duo take a look at what has happened in the oil trade and how now is an inflection point for the “NoGo” as well as round out the risk on picture looking at Bitcoin’s fresh “Go” trend. As always, GoNoGo Charts demonstrate how you can combine a sophisticated trend following checklist with some of the traditional technical techniques such as pattern analysis.
This video was originally recorded on July 21, 2022. Click this link to watch on YouTube. You can also view new episodes – and be notified as soon as they’re published – using the StockCharts on demand website, StockChartsTV.com, or its corresponding apps on Roku, Fire TV, Chromecast, iOS, Android and more!
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