Re: GS
With all the press about this institution, and now looking at the 12-month daily chart, it seems that this monster institution is the only financial of the kind to has NOT been hit by the recessionary changes that has printed similarly in all of the banks charts (typically a steep decline from OCT/NOV 2008, then a steep recovery in MAR 2009.)
Instead, it fell steep, but seems to have recovered ahead of everyone else. Hmmm.
Technically, I have doubt that this can rally in the money though, IMHO.
I cannot point it out for now with any certainty, but the momentum (slope of price may be) does not seem able to bring it up into AUG's 160 price level, only because of the negative divergence in RSI and PPO since MAY 2009, and serious historical resistance at the 145-155 range: at these levels, it would have to seduce its own crowd that it is worth more than right prior to the decline, which conceptually would be a hard sell, now that the market figured out that any if not all institutions have inherent systemic flaws and residual toxic assets, IMHO.
What do you see technically that I may have missed? Are you assuming that they can still cheat physics LOL which we both know they can (hey, they reportedly orphaned the whole month of December 2009 and continue to play the government hands like ventriloquists).
D.
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