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Wave Analysis Goldman Suchs (GS) Stocks


You can't short companies just because you think they are abhorrent (You just give your money to people you'd not like), but just for the record - I don't like Goldman Suchs . Been waiting a while for the shorting opportunity to set up in Goldman Suchs.

Goldman Suchs has been hy6per parabolic through the last swing. A common trait of a blown-off top. These moves often terminate in the 161 extension area of the previous fall.

There can be some false breakouts but when the market gets back under the 161 the sellers come in hard and strong.

We have a bearish butterfly completing. The butterfly and the head and shoulders are two of the most common false breakout patterns I tend to see around large inflection points.

When I see a butterfly here I am usually willing to speculate not only the butterfly will drop the market but also that the break it makes will develop into a second trade.

The price action I am looking for here is there to be a hard sell-off. A breaking of the range and harmonic low. The market slowly ranging for a while (Probably at least a few days) and then a hard second break - which is where we'll be into the meat of the downtrend.

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