Alex and Tyler are back together talking markets from midtown Manhattan on this week's edition of the GoNoGo Charts show. The heavy selling pressure this week has kept US Treasury bonds and major equity indices in strong "NoGo" trends. While many analysts are searching for signs of a bottom, key areas of support are breaking. Alex and Tyler look across the asset classes at absolute trends ,as well as the sectors of the S&P500, for relative strength. Defensive and cyclical sectors continue to show leadership. Names within the US Commodities index, such as Chevron and $CORN, deliver constructive evidence of trend continuation. Meanwhile, Bitcoin has worked down through key support at $33,000 and, at the time of recording, was sitting at $29,000, the next line in the sand.
This video was originally recorded on May 12, 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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