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!
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.
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.