Are There Cracks in Goldman Sachs (GS)?

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Primary rallies and declines are typically led by the banks.

Goldman Sachs (GS) led the way up, but now it's collapsing.

It's doing the Friday/Monday deal: it was down big on Friday, and is indicated down 5 this morning.

It's not just the degree to which it's come off the March 1 high, but the number of distribution days that have played out: nearly every day has been red this month.

This is a sign of urgent selling.

Notable is the acceleration when GS declined below the 5-week flat from early December.

The way GS is trading, it looks as if it may do an Eiffel Tower, retracing the entire Trump Rally.

I would not be surprised to see the SPX act in kind if it should take out its mid-December to late-January flat.

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