It’s been an entirely uninspiring year for $GS. The recent $SPX spike to new highs left it far behind and clearly has displayed a negative divergence with consequences since then. The current pattern of stairs reeks of distribution, so what’s up over at $GS?
The recent pattern may be indicative of an imminent bounce, yet I doubt markets can sustain any large rally without some more convincing strength in the financials. And, as they stand right now, they trade dreadfully:
Categories: Daily Market Brief
Tags: GS XLF