Short Term Trading Member Forum

[techcharter]

GS - Long E-wave Count

The lows in 2002 to Highs in 2007, I believe was Wave 5 of larger WAVE 3. The highs of 2007 to the lows of 2008 definitely looks like a zigzag WAVE 4. Since then a WAVE 5 has unfolded, and TRUNCATED.This is where GS's Greater Depression crash technically begins. Yes, there could still be one more little wave up, but the rally out of late 2008 looks structurally complete.

Other techical indicators are supporting the thesis of a top. Volume declined as the price moved up. The stochastics has been overbought for 8 months and have issued a sell signal. The RSI and MACD have rolled over for sell signals as well.

http://stockcharts.com/h-sc/ui?s=GS&p=W&yr=3&mn=0&dy=0&id=p23166203576

The market is saying, "The emperor is wearing no clothes."

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=gs&time=&freq=