The
most risky 'risk on' asset of all, are the big bank stocks. When they rally
hard you know the central bank liquidity is running freely. Goldman Sachs
(GS) Gann Angle technical picture suggests this is as far as it goes for the
Jan 2012 rally.
The US Federal Reserves POMO schedule actually takes monies out of the market
over the next few weeks, this may assist lower stock prices. And of course
there is always the worsening fundamentals (PMIs from Asia and Europe) etc,
but who follows fundamentals, not this market.
The chart for Goldman Sachs, price is up against a bearish 1x2 angle. Much
like other banks stocks as they are all are up against heavy resistance.
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