Far from leading the market higher in its hour of need, Goldman has turned into the proverbial cement shoes, sinking whatever prospects remained for a year-end short-squeeze of the broad averages. The stock has had noticeable difficulty reaching even the Hidden Pivot midpoints of retracement rallies, and so we should now expect to see it achieve downside targets with consistency. The nearest lies at 168.33, and it can serve as a minimum downside objective for the near term. The 161.84 target of a larger pattern remains viable as well.
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