Since July 2010, Goldman Sacs has embarked on a relentless rally from $129.5 to $175.34. After the stocks last corrective move, that ended on 11/30/2010, the stock had rallied $19.2 in anticipation of it's earnings release.
Was the earnings release a good reason to sell - are you pondering a variety of factors or did you hear something disturbing on the conference call that may have caused the sell off? From an Elliott Wave perspective the selling event was called for based upon the completed wave patterns.
While analysts are now making adjustments to their price models and sending out briefs to their clients regarding new price targets, elliott wave practitioners need to step back and look at the larger picture to determine the extend of the sell-off and where the next opportunity exists to accumulate this bellwether stock.
To find out, watch this brief video.
Best of Trading
Falling as expected after terminating w.X
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