GNG TV: “Fish Where the Fish Are” — GoNoGo Trends for Relative Strength
In this week’s edition of the GoNoGo Charts show, Alex and Tyler explain the process and tools that investors can use to narrow their universe of securities to those in the highest performing sector, industry group, and even to individual names. Starting from the macro picture, GoNoGo Charts help investors understand relationships between asset classes. Both $TNX and $USD are gaining strength on a daily basis from NoGo trend conditions to amber bars of neutral or uncertain conditions. Often found between trend reversals, the recent rise in treasury yields and the dollar index have a subtle, but observable, negative impact on further price gains in the equity index.
Looking closely at natural gas, $UNG, Alex and Tyler unpack the textbook technical analysis investors can rely upon to see double-top formations and channel breakdowns. These more subjective methods provide context and confirmation to the statistical tools built into GoNoGo Charts.
They also talk Recreational Services, Travel & Tourism, and Recreational Products. Highlighting the sustained “Go” trend conditions in Tempurpedic (TPX), Alex and Tyler showcase the disciplined process for managing the lifecycle of a trade using this top-down methodology to help investors “Fish Where the Fish Are.”
This video was originally recorded on February 9, 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.