I believe Goldman is at or very near a top here and it could be an excellent short. My Elliot Wave annotations should explain this. In addition, GS is extremely overbought on the daily stoch and closed outside it's daily bollinger band. When this occurs in a downtrend (stock price is below its downward sloping 162dma) it is usually a good time to short. Could be the ultimate buy the rumor (bad bank) sell the news event. I know someone else posted that GS was breaking out so here is a differing opinion.
Quote from your chart...... "wave 2 was a symmetrical triangle" You may need to double check EW rules.........
The Goldman Sachs Group Inc. $ 96.57 GS 3.72 Short Interest (Shares Short) 13,747,800 Days To Cover (Short Interest Ratio) 0.8 Short Percent of Float 2.88 % Short Interest - Prior 13,462,000 Short % Increase / Decrease 2.12 % Short Squeeze Ranking⢠-1 % From 52-Wk High ($ 203.39 ) -110.61 % % From 52-Wk Low ($ 47.41 ) 50.91 % % From 200-Day MA ($ 111.98 ) -15.96 % % From 50-Day MA ($ 79.68 ) 17.49 % Price % Change (52-Week) -51.10 % Shares Float 476,780,000 Total Shares Outstanding 461,784,433 % Owned by Insiders 6.12 % % Owned by Institutions 71.10 % Market Cap. $ 44,594,522,695 Trading Volume - Today 26,559,786 Trading Volume - Average 17,585,900 Trading Volume - Today vs. Average 151.03 % Earnings Per Share 4.47 PE Ratio 21.60 Record Date 2009-JanB Sector Financial Industry Diversified Investments Exchange NY