StockCharts TV: Multiple Timeframe Analysis Using GoNoGo Charts

2 years ago 479 views 3 min read

Tyler Wood, CMT

Chief Operating Officer

GoNoGo Charts

Multiple Timeframe Analysis Using GoNoGo Charts

Charles H Dow declared the importance of closing prices, particularly over longer timeframes. In this episode, Alex and Tyler take a look at some monthly charts to gain perspective on current market moves and provide context to the rangebound consolidation of both US Equities and Treasury Yields. Looking at the relative performance of US indices, we can see the outperformance of growth over value (QQQ:DIA). Under the hood of the rising S&P 500 (SPY) – which is currently in “Go” trend conditions on a Daily, Weekly, and Monthly basis – we see strong relative outperformance from three sectors: Information Technology (XLK), Consumer Discretionary (XLY), and Communications (XLC). Highlighting a few key leaders on a daily basis, Alex and Tyler discuss the concept of polarity, as many charts broke above resistance and are now retesting the same price levels for support. Namely, mega-cap growth companies from the three leading sectors in “Go” trends on their respective daily charts include Apple, Amazon, Nvidia, Tesla, and Meta. Noting that technical analysis provides a toolkit that can be applied on any timeframe, Alex and Tyler move to intraday 30-minute bars to see risk management and alpha capture scenarios in Lucid Group, SoFi Technologies, and Carvana.

* 00:00 Intro
* 00:36 S&P 500 ETF (SPY), 10 Yr Treasury ($TNX), US Dollar Index (UUP)
* 08:35 Gold Trust (GLD), S&P 500 ETF (SPY), QQQ Trust (QQQ), Dow Jones (DIA)
* 17:56 Apple (AAPL), Amazon.com (AMZN), NVIDIA Corp. (NVDA)
* 22:20 Tesla Inc (TSLA), Meta Platforms (META), Lucid Group (LCID)
* 26:00 SoFi Technologies (SOFI), Carvana Co (CVNA)