Decision Point for S&P "Go" Trend
Volatile market swings continued last week. The midweek rally in 
SPY was bookended by selling pressure as GoNoGo Trend conditions (daily data) for major US Equity indices flirted with neutral amber “GoFish” bars.
GoNoGo Oscillator (lower panel) is riding the zero line on heavy volume - this objective level of neutrality should provide support in a healthy uptrend. Breaking down below zero signifies heavy selling momentum. Logically, that is not a sustainable condition for an uptrend.
GoNoGo Squeeze is climbing to a max grid (amber visual in lower panel) - this illustrates the knife fight between buyers and sellers right now - heavy volume, choppy rangebound price action, and no directional momentum. Other familiar volatility-based indicators like Keltner Bands, Bollinger Bands, etc... show that following periods of contracted volatility, price action can respond like a coiled spring with sharp moves in the direction of the break.
This is a critical juncture for SPY. The volatility squeeze will need to break out to the upside if the “Go” trend is going to continue.
SPY
SPY was bookended by selling pressure as GoNoGo Trend conditions (daily data) for major US Equity indices flirted with neutral amber “GoFish” bars. GoNoGo Oscillator (lower panel) is riding the zero line on heavy volume - this objective level of neutrality should provide support in a healthy uptrend. Breaking down below zero signifies heavy selling momentum. Logically, that is not a sustainable condition for an uptrend.
GoNoGo Squeeze is climbing to a max grid (amber visual in lower panel) - this illustrates the knife fight between buyers and sellers right now - heavy volume, choppy rangebound price action, and no directional momentum. Other familiar volatility-based indicators like Keltner Bands, Bollinger Bands, etc... show that following periods of contracted volatility, price action can respond like a coiled spring with sharp moves in the direction of the break.
This is a critical juncture for SPY. The volatility squeeze will need to break out to the upside if the “Go” trend is going to continue.
SPY
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。