9 replies to this topic

[trioderob]

and it sure is rocketing .......

[tsharp]

Let's put the banking sector into perspective...

 

The three biggest movers were Citigroup, Goldman Sachs and Bank of America... all three are in bear markets, with GS only just joining them... C and BAC appear to be topping out in very large b-waves, so will be heading back down to near their previous lows again in the next couple years.

 

I hope these are not what you're putting your hope in!

 

 

 

 

 

 

[tsharp]

This sort of reminds me of the blurb I read last week that Sears Holdings rallied something like 13%...

 

Oh, did I mention that SHLD lost over 99.5% of its value since 2007?

 

It is getting close to generating a buy signal though...

 

PERSPECTIVE... PERSPECTIVE... PERSPECTIVE!

 

Edited by tsharp, 19 September 2018 - 10:21 PM.

[SemiBizz]

We had a similar spike on 8/27, the day before GS dropped for the next 3 weeks...

 

So it could be another DISTRIBUTION SPIKE... but we'll see.

 

GS - GAPS UP ON STRONGER VOLUME - AS GS "FISHED" instead of cut bait... and we saw GS on a CHANNEL BREAKOUT as it pushed higher on a BIG SIGN OF STRENGTH... now it needs to be followed up on with a push over 240 and beyond... or risk a one or two day "OPEX wonder" tag on it.

 

[SemiBizz]

We had a similar spike on 8/27, the day before GS dropped for the next 3 weeks...

 

So it could be another DISTRIBUTION SPIKE... but we'll see.

 

 

 

 

[SemiBizz]

Oh, and to the point that GS leads the market...

 

Yesterday the big sign of strength in GS...

 

Today New all time highs in SPX and DJIA...

 

[tsharp]

I realize this thread was initially about GS, but the banking sector as a whole is starting to show signs of trouble... 

 

Here's Well Fargo weekly that appears on the brink of bear market... technically, I would call it already, since it broke the UTL on the momentum indicator line, but the bounce saved it for the moment... the H&S in an ominous formation in light of the fractal count and momentum.

 

 

 

Edited by tsharp, 21 September 2018 - 11:20 AM.

[SemiBizz]

 

We had a similar spike on 8/27, the day before GS dropped for the next 3 weeks...

 

So it could be another DISTRIBUTION SPIKE... but we'll see.

 

 

 

 

 

 

UPDATED CHART GS FRACTAL:

 

[SemiBizz]

GS FRACTAL UPDATE:

 

(This morning at 10am ET)

 

[SemiBizz]