In this week's edition of the GoNoGo Charts show, as yields pull back and the U.S. dollar accelerates into the NoGo trend, Alex and Tyler review the new Go trend in the S&P 500 Index ($SPX) daily chart. U.S. midterm elections are concluding and inflation numbers are coming in softer than expected, while the $SPX gaps higher in a 5% upside move. Interestingly, from a relative strength perspective, the leadership of cyclical groups has continued into this new bull phase from areas like Materials, Industrials, Financials, Energy, Healthcare, and Consumer Staples. Having just returned from Mumbai, Alex and Tyler conclude with a view on emerging markets that have outpaced the U.S. in 2022.
This video was originally recorded on November 10, 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!
About the author:Alex Cole, 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.
About the author:Tyler Wood 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.