Earnings season is upon us, and a couple of big investment banks reported this morning. JPMorgan Chase & Co (NYSE:JPM), true to form, blew the doors off, and they’re hanging out at new lifetime highs. Goldman Sachs Group Inc (NYSE:GS), on the other hand, has gapped down, and it seems to me the trendline it already broke is indicative of the breakdown that is transpiring.
Here is a longer-term view, dating back to the depths of the financial crisis. I would call this chart quite precariously positioned, for it has not only broken the line mentioned above, but also has completed busted the long-term trendline dating back over a decade.
