GS appears to be in the minor wave 3 of intermediate 5 of primary 1. After this last extension we will be topping for a primary 1, and a large drop is likely to occur. This lines up with the overall view that soon the indexes will also be coming to a wave 5 top.
This could still extend for quite some time, possibly even tag 500, but the divergence here shouldn't be ignored. On a break of the lower TL(w/ volume confirmation), the backtest is a short with a PT being the covid TL which has confluence with covid low AVWAP (well above the 61.8 which will be the ideal bottom scenario for longs)
Trading this: scalp longs and wait for signal to go short
This could still extend for quite some time, possibly even tag 500, but the divergence here shouldn't be ignored. On a break of the lower TL(w/ volume confirmation), the backtest is a short with a PT being the covid TL which has confluence with covid low AVWAP (well above the 61.8 which will be the ideal bottom scenario for longs)
Trading this: scalp longs and wait for signal to go short