Go No Go Charts turn bearish with a “NoGo”

The term “go/no go” refers to the pass/fail test process that NASA flight controllers perform to monitor the various systems for operation and readiness before a spaceflight mission launch can proceed.

Investing in the stock market is often accompanied by uncertainties and indecisions. Trading involves evaluating the upside potential to the downside risk taken.

The folks at GoNoGo Charts have developed technical indicators that help traders and investors better process the trading data and make informed decisions.

GoNoGo Charts indicators revolve around the concept that momentum goes hand in hand with trend analysis.

The velocity of price change helps identify the dominant trend and the conviction in the sustainability of the trend.

Rising momentum signals the continuation of an uptrend. Declining momentum warns of a weakening trend or an impending trend reversal.

Trend identification is the single-most-important part of technical analysis. By combining statistical analysis (velocity of price change) with the basic principles of technical analysis (trend identification, momentum, etc.), the GoNoGo technical indicator via visual color prompts determines if the market or security is ready to “Go” (buy) or “NoGo” (delayed buying).

Many technical indicators are complex due to the mathematical models involved and are open to various interpretations. The GoNoGo Trend indicators simplify the decision-making process with only two signals – Go (buy) or NoGo (delayed buying).

When the trend is the strongest, it notifies the trader by painting the price bar bright blue.

When slightly less bullish, the color turns to aqua.

Amber bars represent an uncertain or no trend, often occurring when the trend transitions from bull to bear and vice versa.

Pink bars denote bearishness, and dark purple when the bearish trend accelerates.

Enclosed are updates on the GoNoGo Charts for SPX, INDU, NYA, COMPQ, and NDX.

SPX: NoGo (pink) on 8/31/22

INDU: NoGo (pink) on 8/31/22 and Strong NoGo (dark purple) on 9/1/22

NYA: NoGo (pink) on 8/31/22

COMPQ: NoGo (pink) on 8/31/22

NDX: NoGo (pink) on 8/31/22 and Strong NoGo (dark purple) on 9/1/22