GS Update – December 14, 2017 …

My favorite Fast Money talking head, Dan Nathan talked about GS on today’s show so I called up my bigger broadening price pattern to see if I can see the bearish outlook that Dan sees …

GS – Weekly Chart #1

Price is back testing the upper resistance line of the broadening price pattern on the GS weekly chart … with the strength shown in that kick-off move, I would have to assume that price is going to push to new highs.  Question is whether or not we can go much higher if the overall market has any kind of a hiccup during early 2018.  I ask that because of my post yesterday that talked about the extreme trend strength warning on the S&P 500 Index (the first since July 1995).

GS – Weekly Chart #2

All of GS’s weekly chart indicators are pointing higher …

GS – Weekly Chart #3

And it looks like the R/S is about to break out of a consolidation pattern … I love when it does that!!

GS – Weekly Chart #4

I have an audio alert set to warn me when the R/S indicator makes a break higher …

Cheers … Leaf_West

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