NEE struggling after making new high

At the beginning of the week in our Flight Path newsletter, we took a look at the Utilities sector and we saw how on a relative trend basis, utilities had started to outperform.
NEE, the largest company by market cap in the sector, had broken out of the range it had been trading in and was on its way to a new high. We can see this on the daily chart to the left.
We suggested going to a lower time frame to look for a GoNoGo entry signal for a better price if you wanted to get long.
On the hourly chart to the right, we can see that we never got the green re-entry circle that we were looking for and price was near the high that it put in. In fact, at the last bar of Monday the 12th, we saw a short term counter trend red correction arrow that warned of a pause in the “Go” trend. Along with that, the GoNoGo Oscillator crashed through the zero line and after a few amber bars of indecision, the trend has changed to a “NoGo”. We can see that this lines up with the neckline of what could loosely be described as a head and shoulders pattern and so we now can expect price to fall to support at the highs of the previous range.