Well what do we have in store for us next week, interms of earnings in the financial sectors. If was a pretty rough start with Alcoa, we believe that there are no green shoots and the market will play the drop and pop game. Meaning the trending-less day coming into earnings. On Jul 6th our target to the downside was taken out and since then GS has rallied back into the range of $140 $145 per shr level. As of today, GS is resting on the top the breakout pattern created on Jul 9th when BAC analysts said a $170 target is likely to happen. Q2 numbers are suppose to be great, however, buy the rumor and sell the tell.
$135 would a nice level to see again in GS, after the annoucement, in a couple of trading sessions we may see this, it is not in possible to get there.
Baked in earnings range only (Tuesday) of a 5% drop or pop range at current level ($141.87) is $148.96 to the upside, $134.78 to the downside.
Based on past patterns in GS they have done a run and dump on its earning's day, so be carefully and keep the powder dry. Talks of 2nd Stim, Bouses. Stealing of the Secret Sauce, humm. just be careful.
