GoNoGo Charts

GoNoGo TV: Downside on Multiple Timeframe Perspectives


It is no mystery that US equity indices are chopping around volatile swings each and every day. The trend conditions remain "NoGo" as markets deliver continued lower highs and lower lows. The weight of the evidence remains to the downside on daily and weekly timeframes. However, Wednesday delivered 3.7% gains on the Nasdaq 100 and Consumer Discretionary $XLY was the highest-performing sector of the day at 3.41%. In this week's edition of the GoNoGo Charts show, Alex and Tyler walk through GoNoGo Trend from an intraday trading perspective to see how the very short-term moves could be traded.

Alex and Tyler also present a discussion of two important technical concepts. The first is divergence, which, whether positive or negative, we can look to GoNoGo Oscillator to see whether momentum is reinforcing a price trend or providing early indication of trend deterioration. The other is Fibonnacci Levels; looking at clean GoNoGo Charts allows analysts to overlay a series of support and resistance lines. Fibonacci lines can identify important price levels for extension or retracement of price moves where there is often a confluence of supply or demand.

This video was originally recorded on March 17, 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!

New episodes of GoNoGo Charts air on Thursdays at 3:30pm ET on StockCharts TV.

Alex Cole
About the author: , CEO and Chief Market Strategist at GoNoGo Charts, is a market analyst and software developer. Over the past 15 years, Alex has led technical analysis and data visualization teams, directing both business strategy and product development of analytics tools for investment professionals. Alex has created and implemented training programs for large corporations and for private clients. His teaching covers a wide breadth of Technical Analysis subjects from introductory to advanced trading strategies. Learn More
Tyler Wood
About the author: is the Chief Operating Officer of GoNoGo Charts and a seasoned business executive who has led the operational and business development activities of teams large and small. As an executive manager over the past 20 years, he built and brought products to market in the educational technology space and financial services industry. As the Managing Director of the CMT Association for over a decade, Tyler has presented the tools of technical analysis around the world to investment firms, regulators, exchanges, and broker-dealers. Galvanizing vendors, volunteers, and demanding stakeholders around a common vision, Tyler designed and implemented policies and programming that raised the standards for professional technical analysis worldwide. Learn More
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