InTheMoneyStock...'s  Instablog
Send Message
InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype... More
My company:
My blog:
Pro Traders Rant and Rave Blog
  • What's Wrong With Goldman Sachs Stock? 0 comments
    Mar 11, 2014 11:39 AM | about stocks: GS, MS, JPM, BAC, BLK

    As we all know, the major stock indexes have been making new all time highs. The leading financial stocks have been surging higher driving the stock market into uncharted territory. Recently, leading financial stocks such as J.P. Morgan Chase & Co (NYSE:JPM), Wells Fargo & Co (NYSE:WFC), and Bank of America Corp (NYSE:BAC) have been making new 52-week highs, but Goldman Sachs Group Inc (NYSE:GS) has not made new 52-week highs. In fact, GS stock looks to have peaked on January 6th, 2014 at $181.13 a share. Today, the stock is trading around $173.13 a share.

    What is wrong with Goldman Sachs stock? At this time, GS stock is trading into a lot of daily chart resistance around the $174.00 level. The stock looks vulnerable to a pullback from this resistance area. Just the fact that Goldman Sachs stock price is not leading the financial stocks higher is somewhat alarming. Swing traders must be on guard for any decline below the $172.00 level on a closing basis, this could signal a larger decline down to the $157.00 area which would be weekly chart support and an area where the stock would likely see institutional sponsorship.

    Some other market leading financial stocks that are not yet making new highs on the daily chart include Morgan Stanley (NYSE:MS), BlackRock, Inc. (NYSE:BLK), and Deutsche Bank AG (NYSE:DB). When the large broker/dealer stocks lag the other large financial stocks it is often a sign weakness to come in the overall stock market.

    Nicholas Santiago

    Stocks: GS, MS, JPM, BAC, BLK
Back To's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • Utility #stocks leading markets higher despite slightly higher yields in the 10-year U.S. #Treasury. $SO, $ED, $XLU all higher today.
    Apr 20, 2015
  • $YELP Forming Bearish Chart....
    Apr 13, 2015
  • $WMT bearish base, daily 200-day ma. Should drop to the $78.00 level & present a good entry level to buy the stock.
    Apr 10, 2015
More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.