GoNoGo Charts

GNG TV: Equity Selloff Continues, Commodities Hold a "Go" Trend

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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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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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