Don't Ignore This Chart!

Goldman Sachs (GS) Bags Fresh 6 Month Highs

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Goldman Sachs (GS) is a big name financial that broke out to new 6-month highs today. Citi (C) also broke out to new 6-month highs. Wells Fargo (WFC) was popping higher today, Bank of America (BAC) has been running, and JP Morgan (JPM) looks like it wants to take out all time highs. 


The big US banks, brokers, and insurers are really moving. This trend has been building for a month, but the breakouts above previous highs have just been in the last week for most of them. I'd recommend taking the time to look across the financial sector.

Good trading,
Greg Schnell, CMT, MFTA. 

 

Announcement from the Author

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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).

Greg is also the co-author of Stock Charts for Dummies (Wiley, 2018). Greg joined StockCharts.com in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician, Commodities Countdown and Don't Ignore This Chart blogs. Learn More
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