GS taking it to the banksBulls had it at the start last week but bears turned what could have been and inside up week into another bearish inverted hammer. If we close below 173 for the next weekly candle we are looking at a drop to the lows around $130 soon after and then the plummet could continue to the $90's by the end of the year.
That being said if we break up, above $195ish, expect to be at new all time highs soon.
Trade ideas
Goldman Sachs ominously below 200IF you follow me, you’d know that earlier this week, I already saw the S&P500 revisiting and exceeding the last low. While the earlier part of this week saw a rebound, it is wide ranged and volatile. It is about time for a revisit to the lows, and did you know that Goldman Sachs (financials) are leading the way?
Technically bearish, GS is leading the reversal down...