Goldman Sachs Is Struggling Here

This commentary was originally sent to Trifecta Stocks subscribers at 05:10 on April 17.

With the banks having trouble with a tighter yield curve, money has been flowing out of these names and into the safety of bonds.

Further, trading has slowed down a bit, and estimates have been coming down. Last week saw some decent earnings reports from JP Morgan (JPM) , Wells Fargo (WFC) , and Citigroup (C) -- yet their charts still show their stocks are in distribution.

Goldman Sachs (GS) is no savior in the group. The strong rally since the election was impressive, but the trend has now shifted bearish.

We could see more downside to come, perhaps down to $210 or so (gap support), and if the market really gets wobbly then the 200-day moving average comes into view.



Earnings are due to be published on Tuesday, but they are not likely to help much, other than offer selling opportunities. Above $236 shifts that sentim
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