The futures are significantly down this morning. This price action could be significant as the GoNoGo Trend is painting an amber neutral bar for the first time since the “Go” was solidified back in April.
This comes after a pullback from the latest peak that was highlighted by the red counter trend correction arrow on September 3rd.
The GoNoGo Oscillator broke below zero just after that and has since found resistance at zero from below. All of this has happened on heavy volume (dark blue of the oscillator) suggesting that the market is buying into this price movement. Barring major revelations today, the index proper will likely mirror this futures chart.
This comes after a pullback from the latest peak that was highlighted by the red counter trend correction arrow on September 3rd.
The GoNoGo Oscillator broke below zero just after that and has since found resistance at zero from below. All of this has happened on heavy volume (dark blue of the oscillator) suggesting that the market is buying into this price movement. Barring major revelations today, the index proper will likely mirror this futures chart.
