Category Archives: Financials

Victory for the Squid

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Since the lowest point of the financial crisis (whose name itself  is a joke – – turns out it was a financial opportunity for the investment banks), Goldman Sachs has increased nearly 500% in value, making Lloyd a billionaire. In addition, the federal government is crammed at the very highest levels with GS alumni. If there were any justice, or a munificent God, Goldman would have gone bankrupt in late 2008, but that, of course, wasn’t allowed to happen. Well-played, Goldman. Your greed, and your success, knows no bounds.

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NFP Report and Dodd-Frank Repeal Propel Banks Stocks (XLF) Higher

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The combined impact of a better-than-expected non-farm payroll gains and the prospect of a Trump repeal of Dodd-Frank financial regulations goosed the Financial Select Sector SPDR Fund (XLF) +1.3% in early trading.

That said, let’s notice on the enclosed near-term Point & Figure chart, that current strength is pushing up towards a test of very powerful resistance at a quadruple high-print of 23.80.

A climb to a 23.90 print will trigger a new buy signal that will project to new high targets of 24.60 and 25.20. Only a print of 23.00 will compromise the constructive P&F set-up.

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Originally published on MPTrader.com.