Goldman Sachs - Also telling us something?

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.

Goldman Sachs and Apple showing signs of weakness

Goldman Sachs has broken below is uptrend line since ultimo 2008 and it should just be a question of time before support at 147.81 is broken, which should accelerate the decline.

Mayn analysts has down-played the seriousness of the charges against Goldman Sachs, but I think the chart tells us, that it's more important, than they want us to believe.


A couple of weeks ago I had a post under the title "Is Apple forwarning the top" Over the last two days, we now have a possible Island Reversal and the possibility for an even bigger Island if the market makes a new gap in the area between 251 to 255.

Maybe, just maybe, these two frontrunners tells us something important.