On this week's edition of the GoNoGo Charts show, Alex takes a look at how equities have failed to move higher this week, making it more likely that last week's rally in equities was a relief rally, not the start of something more constructive. Starting from the top down, he looks at the asset trends, the relative outperforming/underperforming sectors and how the resumption of Go trends in treasury rates and the dollar will impact stocks. He moves on to discuss how tech stocks, such as Meta (FB), continue to struggle and may provide a play for those on the short side. He also shows how GoNoGo Charts tell you when a trade hasn't worked in the way you'd expect. Finally, in an effort to find some blue Go colors, he takes a look at some energy stocks!
This video was originally recorded on June 9, 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.
What areas of the market are leading? How has relative strength rotated since the lows of the pandemic? Join Alex Cole and Tyler Wood on "Beat the Benchmark", a special GoNoGo Charts presentation that will help you glean clear insights to Trend, Momentum, Volume and Volatility for charts of all kinds. See it at StockCharts.com/TV on Wednesday, June 15 at 5pm Eastern Time.
