On this week's edition of the GoNoGo Charts show, Alex discusses another interesting week in the markets. We can see that the trends remain unchanged; "Go" trends persist in equities, commodities, the dollar and bitcoin. What is of note, however, is that only the greenback's trend is painting strong blue bars. There is weakness in the trend of equities, as we can see by the paler aqua bars. Price will need to find support over the next several sessions if we are to see a new higher high. The speculation of even more significant rate hikes is having an impact on the dollar as it continues to strengthen.
Alex walks through the charts of the week and spots opportunities in industries likely to outperform. Companies that are set to perform well as the dollar remains strong are those companies based outside the U.S. but that do business with us. Agricultural commodities such as wheat also look strong, and so Alex takes a look at one of the biggest companies in that space.
This video was originally recorded on April 14, 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.
