GNG TV: Equities Turn “NoGo” as Weight of Macro Factors Takes Toll
In this week’s edition of the GoNoGo Charts show, Alex takes a look at the major assets, noting that Equities have surrendered to a NoGo trend this week. Treasury rates rising, along with the dollar, could be acting as a headwind for stocks. Within the S&P 500, we see growth sectors trying to hang on to outperformance, with defense continuing to perform badly. Taking a look at the discretionary sector, though, shows that there are signs of trouble ahead even here. Finally, a look at TSLA shows a crack in the auto manufacturer’s armor.
This video was originally recorded on March 2, 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!