While I know that the banks are bankrupt, you have not seen me posting negative stuff about their charts until now. It's not that I don't follow banks, it's that I didn't think they were in danger of chart collapse syndrome until right now. So this post begins my coverage of Goldman "Doing God's work" Sachs. Here is the high level picture since the 2009 collapse.
Below is a close up of that last wave up since the start of 2014. Look at the shape of the wave going into the early Feb bottom. It is clearly a 5 wave move with very prominent alternation between waves 2 and 4 and good parallelism between them as well. 3 is the extended wave in that case and wave 1 of 1 is about the same length as 5 of 1. The a-b-c is pretty clear so far. It might still be able to put in a small double top ($1-$2 more) but that seems like about it for now. The the GS herd should begin to move south with conviction.
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