GoNoGo Charts

GNG TV: Just Say "NoGo" to Bear Market Rallies


Defense is still the play on this week's edition of the GoNoGo Charts show. Wednesday's heavy selloff has tempted many analysts to go "bottom fishing" for oversold opportunities. But, instead of forecasting a market bottom, investors can use the weight of the evidence in GoNoGo Charts to lean into short trade opportunities and watch a checklist of Trend, Momentum, Volume and Volatility for signs of meaningful trend reversal. On a relative basis, "Go" trends abound in the value sectors such as staples, utilities and, of course, energy, materials and industrials. Growth remains to be avoided, as it is technology, communications and discretionary dragging the index lower. Financials, after a flirtation with an amber "Go Fish" bar, has resumed its "NoGo" trend this week.

This video was originally recorded on May 19, 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. Learn more about the GoNoGo ACP plug-in with the FREE starter plug-in or the full featured plug-in pack.

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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