The damage done by the SEC’s charges against Goldman Sachs is clearly shown on the chart for the exchange traded fund, IAI, which tracks the broker/dealers and investment banking sector.
The S&P 500 faces the 62% retracement level at 1228 in coming sessions. However, that also acts as a reminder that there are still 300 or so points to go for a new historic high and the bulls seem to be absolutely in control at the moment.
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