A Clear and Obvious Cap at $1520

At least The Banks have given us a clear level to watch!

59
Mon, Aug 12, 2019 - 10:35am

For months, we've discussed the price target area of $1480-1520. And now, here we are...a few weeks ahead of schedule, actually. Regardless, the price action over the past few days makes it clear that The Banks understand the importance of this level, too.

Again and as a reminder, the area around $1520-1525 served as VITAL support in the final stages of the 2003-2011 bull market. Here's a close-up look at the nineteen month period that ended with the brutal, $200 smash of April 12 and April 15, 2013:...

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