Monday, June 27, 2011

Goldman Sachs - potential wave count

GS chart

Goldman Sachs sure has been taken to the woodshed since Jan falling from 175 to 130.  Here's a potential wave count; a wave 5 downtrend began in Jan and expanded into another 5 wave extension, however now there is some positive divergence beginning to form, therefore it's possible that this final leg is a major wave 5.  Once the market puts in a bottom, this could be a nice swing trade

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