In this edition of the GoNoGo Charts show, Alex takes a top-down approach to analyzing the markets using GoNoGo Charts unique approach. He shows how the major asset classes are performing, then looks at the macro factors that affect the equity markets. Treasury rates, gold, oil and the dollar all help inform the investor. Diving into the equity markets, Alex uses the GoNoGo Sector RelMap to show how the growth sectors are helping to keep the overall market in its “Go” trend. After looking at the relative GoNoGo Charts of XLK and XLC, Alex walks through several single securities such as META, AAPL, NVDA, and SHOP to look for strong trends and possible opportunities. Finally, he takes a look at the cryptocurrency environment.
This video was originally recorded on May 25, 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!
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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.