In this week’s edition of the GoNoGo Charts show, Alex and Tyler examine a market that is largely consistent with the choppy downtrends and defensive characteristics of the prior year. The major difference across the asset classes is that the US Dollar index is in a NoGo and Gold has finally begun to shine. The threat of further rally in treasury yields is present, but currently unconfirmed. Within US Equities, Alex and Tyler look closely at Utilities (XLU) and the Excelon Corporation (EXC), a $36B Chicago-based electricity company. In addition, the recent relative strength of the Financials sector (XLF) against the benchmark provided an interesting trade idea on Jefferies Investment Bank (JEF).
This video was originally recorded on January 5, 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!
New episodes of GoNoGo Charts air on Thursdays at 3:30pm ET on StockCharts TV. Learn more about the GoNoGo ACP plug-in with the FREE starter plug-in or the full featured plug-in pack.
