[GS] update

At the backlink my latest modeling suggested that the next likely thing would be a H+S beakdown for corrupt crony capitalism bank Goldman Sachs.



Below is the current snapshot.  The herd knows that neckline is there.  It plummeted down to the neckline, bounced slightly and then smashed it completely before back testing from below.  I have been reminding people for some time that the kiss of death back in 2008 was the head and shoulders breakdown and that they had become quite scarce since then.  Seems they might be coming back in vogue and this is not good news for the markets.  In a debt Ponzi there is eventually no growth when the banks become so impaired that they cannot lend.  Without credit growth, the entire stock market is in great peril a la Prechter.  No banks, no debt Ponzi.  If you are a fundamentals follower, this is the most important of them all.

The next price target is $115 and it could play out fairly quickly because it could turn out to be a 3rd of a 3rd instead of 5 of 1 or A.