Light blue rising wedge or the black channel both running into the blue channel with overbought indicators should turn this puppy. Down a little AH after early earnings release. Purple dashed line is the wedge target. I'm looking at a pullback to 100 or 95 double fib area. MACD and RSI wedges should be ending. I expect RSI to pull back to lower trendline near 50 for this bottom and for MACD to get near lower trendline as well.
do you think GS is good short @ 135-140 range tomorrow?
ReplyDeleteVeena - Looks like we got an E touch on the top of the wedge and if it gets a throwover (doubt it since it is down after hrs) yes. Earnings were ok, but the news of the possible diution to raise cash to get out of TARP funds and the chart above should bring it down (should being the key word in this crazy market). I like the 95 to 100 range.
ReplyDeleterocked the house on this call man!
ReplyDelete