• 260 days Will The ECB Continue To Hike Rates?
  • 260 days Forbes: Aramco Remains Largest Company In The Middle East
  • 262 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 661 days Could Crypto Overtake Traditional Investment?
  • 666 days Americans Still Quitting Jobs At Record Pace
  • 668 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 671 days Is The Dollar Too Strong?
  • 671 days Big Tech Disappoints Investors on Earnings Calls
  • 672 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 674 days China Is Quietly Trying To Distance Itself From Russia
  • 674 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 678 days Crypto Investors Won Big In 2021
  • 678 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 679 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 682 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 682 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 685 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 686 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 686 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 688 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

Tesla Struggles To Compete In European Market

Tesla Struggles To Compete In European Market

Tesla continues to catch the…

  1. Home
  2. Markets
  3. Other

Goldman Sacked

This chart caught my attention.

Great relative strength for the broader market in the face of deteriorating financial support. Historic lows on Goldman's daily relative strength index (RSI). Lower than even during the financial crisis in 2008. Looks primed for a bounce - but buyer beware. The last time it traded this weak on a relative strength basis was right before the bottom fell out of the market in the fall of 2008. A more equal comparison of market conditions (in that GS dislocated from trend) was last May when the SEC investigation broke. The market held up for a few days before it followed suit. What is troubling about today is how long Goldman, and for that part the financials - have been trending away from the broader market.

And isn't there something about some kind of rapture this weekend?

Of course Goldman would know about it before the rest of us...

SPX and GS

 


Along this line of thinking: Baromarket Pressure

I just joined Twitter. All my trades and occasional market musings are disclosed in real-time here.

 

Back to homepage

Leave a comment

Leave a comment