How to cash in on Goldman's sell off - How to cash in on Goldman's sell off

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How to cash in on Goldman's sell off

"How to cash in on Goldman's sell off" 

in the news How to cash in on Goldman's sell off? What this all about..... See below. 

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Sentiment Trader shows a chart we normally do not show on our BLOG here. [ Our PREMIUM MEMBERS HERE ] usually get access to our DAILY updates. 

But we thought we would share some analysis with our readers this week. 

After we warned of a DROP coming on GOLDMAN SACHS, that did actually arrive. You might have a bit of success looking out to the JULY Expiration, as there is a very important and major event around the earnings soon. So we are keeping a watch on that. The chart here is clearly showing us that this could be classic head and shoulders pattern on the chart! With the right shoulder forming as you read this post......

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As a side note, this is one of the worst performing stocks on the DOW, so that is why goldman sachs has grabbed our attention. And that could mean there is more downside coming very soon. When you look at the price action above in the nice chart we have drawn, the signs are starting to look ominous we think. 

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Hourly Chart Trouble

Hourly Chart Trouble

I woke up this morning, and turned my S&P 500 hourly charts, and I have to say the first thing that stuck out at me is the head and shoulder chart. Normally these sorts of patterns are seen as bearish. So I would expect that FRIDAY that some downside pressure is going to come to the markets!

Here is the hourly S&P 500 chart below. 

SPX HOURLY CHART - Head and shoulders pattern

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Head and shoulders pattern

Head and shoulders pattern on dow ?

Stocks snapped a three-day losing streak Thursday, with the S&P 500 finishing just below the 1,700 mark, buoyed by stronger-than-expected Chinese trade data and following a favorable jobless claims report.

Right now there are alot of analysts saying this market is strong... however if we look at the DOW JONES chart, I would not be calling this chart strong at all.

First of all we have been travelling sideways for weeks now.

Second, we are in summer trading and volume is very light making the action quite volative.

Lastly, as a whole the last few weeks could be nothing more than a nice HEAD AND SHOULDERS pattern, which would be a warning for people NOT to be too bullish for now.

dow jones daily chart

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