GoNoGo Charts

GNG TV: Equities Turn "NoGo" as Weight of Macro Factors Takes Toll

Alex Cole

Alex Cole

CEO & Chief Market Strategist, GoNoGo Charts

In this week's edition of the GoNoGo Charts show, Alex takes a look at the major assets, noting that Equities have surrendered to a NoGo trend this week. Treasury rates rising, along with the dollar, could be acting as a headwind for stocks. Within the S&P 500, we see growth sectors trying to hang on to outperformance, with defense continuing to perform badly. Taking a look at the discretionary sector, though, shows that there are signs of trouble ahead even here. Finally, a look at TSLA shows a crack in the auto manufacturer's armor.

This video was originally recorded on March 2, 2023. 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 private clients. His teaching covers a wide breadth of Technical Analysis subjects, from introductory to advanced trading strategies. Learn More