Today your favorite senator’s bank, Goldman Sachs, made a clean break through the neck (cup?) line I recently highlighted and suggested you give buying GS shares a strong consideration. Going forward the $125.00 level should be considered a VERY significant price level for not only GS shares but the entire market. Massive investment banks have massive institutional shareholders and are an important piece of sentiment for the overall market. I scaled off half my position as it had grown to nearly 20% of my portfolio but the breakout merits continued bullishness.
Keep this important level in mind as a puzzle piece when forming your bias:
Is that steam rising from the cup?
Indeud, she’s running hot.
Great chart. Thanks for posting