Don't Bank on a Goldman Sachs Rally

Goldman Sachs  (GS) gapped lower on the opening this morning, so a fresh look at the charts and indicators is warranted. GS has been under its declining 50-day moving average line for about four weeks and nearby support is limited. Let's see how nasty this might become.

In this updated daily chart of GS, below, we can see the lower open for GS in reaction to its disappointing earnings release. GS is making a new low for the move down, and is below the declining 50-day moving as noted earlier. The rising 200-day moving average line is below the market but it is the closest it has been in over five months....242 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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