In this edition of the GoNoGo Charts show, Alex and Tyler review rangebound charts across macro drivers such as yields (TNX), currency (UUP), and commodities (GLD, USO). Relative stability offers a low volatility backdrop for Equities to sustain the bullish Go trend conditions. Within the S&P 500, rotation and breadth expansion provides new opportunities in leadership amongst the Industrials sector (XLI). Multiple industry groups are pulling the sector higher.
This week, GoNoGo Charts provide idea generation in Airlines, heavy construction, and building materials. Drilling down to the individual security level, Alex and Tyler offer perspectives on Nocera (NCRA), Skywest (SKYW), and Boise Cascade Co (BCC) an engineered wood products company critical to framing out new home construction. Concluding with the Crypto Relmap, GoNoGo Charts reveals Bitcoin is again outperforming the S&P 500 from a trend perspective.
This video was originally recorded on June 29, 2023. Click this link to watch on YouTube.
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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 private clients. His teaching covers a wide breadth of Technical Analysis subjects, from introductory to advanced trading strategies.
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About the author:
Tyler Wood, CMT, co-founder of GoNoGo Charts, is committed to expanding the use of data visualization tools that simplify market analysis to remove emotional bias from investment decisions.
Tyler has served as Managing Director of the
CMT Association for more than a decade to elevate investors’ mastery and skill in mitigating market risk and maximizing return in capital markets. He is a seasoned business executive focused on educational technology for the financial services industry. Since 2011, Tyler has presented the tools of technical analysis around the world to investment firms, regulators, exchanges, and broker-dealers.
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