Good morning and welcome to this week’s Flight Path. The “Go” pattern in equities continues this week and we noticed an uninterrupted week of robust blue bars. Treasury bond costs have seen a return to a “Go” pattern with a pale aqua bar on the finish of the week. U.S. commodities have proven energy with a string of brilliant blue “Go” bars.  The greenback, which has been such a powerful performer of late remained in a “Go” pattern however demonstrated just a little weak point with a few aqua bars.

$SPY Sees Continued Power at New Highs

The GoNoGo chart beneath reveals that value continued to rally this week and GoNoGo Development painted per week of brilliant blue “Go” bars. Worth has edged to new highs and we are going to look to see if it could consolidate at these ranges. This got here after GoNoGo Oscillator discovered assist on the zero line on heavy quantity. We all know subsequently that momentum is confirming pattern path. So long as momentum stays at or above zero we will say that the pattern is wholesome.

On the long term chart, we will see that the pattern is powerful. We see a 3rd consecutive robust blue bar as value creeps greater. GoNoGo Oscillator is in constructive territory however not but overbought. Maybe there stays room to run. We are going to watch to see if the oscillator continues its upward trajectory or if it falls to check the zero line.

Treasury Charges Stay in Weak “Go” Development

Treasury bond yields proceed to fall and we noticed a brand new decrease low on pale aqua “Go” bars. This comes as GoNoGo Oscillator was unable to search out assist on the zero degree. After breaking by that degree into destructive territory the oscillator rapidly re-tested that degree however was sharply rejected, falling rapidly additional into destructive territory. Now, at a price of -3, momentum is destructive however not oversold. We are going to watch to see if charges transfer decrease from right here.

The Greenback Takes a Breather in “Go” Development

After weeks of robust blue “Go” bars we noticed some weak point creep in on the finish of the week. This was not earlier than one other new greater excessive was hit nonetheless. After that top, a Go Countertrend Correction Icon (crimson arrow) advised us that value might battle to go greater within the brief time period and certainly because it fell from the excessive we noticed weak point within the pattern. GoNoGo Oscillator is at an inflection level because it assessments the zero line from above. We are going to watch to see if it finds assist at this degree. If it does, then we will search for value to make an try at a brand new excessive.