On April 6. I asked if Apple was telling us something in regards to the stock market. See the link below.http://theelliottwavesufer.blogspot.com/2011/04/apple-telling-us-something.html
Apple is clearly one of the leaders and so is Goldman Sachs. The question is again "Is Goldman Sachs telling us something about the state of the stock market?
The rally since the bottom at 47.41 in late november 2008 tooped at 193.60 in mid-October 2009. Since then we have been more or less consolidating, but the latest price-action seems to highlight the downside risk again. We have seen a Shoulder/Head/Shoulder top form since October 2010 to early March 2011. This pattern has been triggered, with an objective at minimum 146.25.
I expect resistance in the 166 - 167 area to protect the upside for a break below 156,00 to confirm the next leg lower towards 146.25.
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