Goldman Fills the Gap:
One of the most prestigious banks in GS is not immune from the overall market carnage. When selling is indiscriminate no one is left alone. The daily chart below shows although it has filled in the election gap, but the gap below the 200 day SMA Thursday leaves a stain. The WEEKLY chart shows the doji (the middle week of a bearish evening star completed the week ending 2/21) which should have had shareholders looking for the exit, or at least playing defense. Without some heroics Friday it will CLOSE below the 50 WEEK SMA for the first time in 17 months. The MONTHLY chart shows the the selling could intensify. Like many names it recorded the doji candle in February (and completed the bearish evening star in March) which was the canary in the coal mine for many. On RSI it can still drop another 15 handles and still be in that area where leaders will tend to floor at 40/45. The MACD is looking likely to have a bearish crossover from a very high altitude and this could in the coming months trend back toward the prior cup base breakout just above the very round 400 number. Of course, this is not a high percentage scenario, but no one has a crystal ball.