Goldman Sachs (NYSE: GS) jumped nearly 5% on 3-12, along with a rip-roaring rally in the Dow Jones Industrial average.

But the stock is still some 33% below its October 2007 high, and has a long way to go to make it back even to its 50-day moving average which is near the 190 area.

In other words, the financial sector is a long way from delivering enough performance to even break out of an intermediate term down trend.

That's not to say that we may not have seen the bottom in the stock market. That is possible, given the strength in the market on Tuesday.

Yet, bear market rallies tend to be explosive and give traders the feeling that they're missing something, just as the action on Tuesday did.

What Goldman's chart says to us is that Tuesday was a good day, but that more work needs to be done to repair the damage to investor confidence in the investment bank.

As we always note: As Goldman goes, so does Wall Street tend to follow. And on Tuesday, all we can say is that we had one good day for the bulls.

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Doctor Joe Duarte's Market I.Q., offers subscribers a unique blend of intelligence, market commentary and trading strategy. Duarte's daily articles, and news summaries offer recommendations and analysis for ETFs, and individual stocks in the technology, health and biotechnology, and energy sectors. Doctor Duarte is a writer, and an emerging futurist, with a diverse background, and a growing audience. His combined expertise in health care, energy, and the effects of politics and global intelligence on the financial markets offer a unique blend of insight and information to thousands of active investors and political and intelligence aficionados around the world on a daily basis.

He is the author of four books: "Futures And Options For Dummies," "Successful Energy Sector Investing," "Successful Biotech Investing" and co-author of "After-Hours Trading Made Easy."

In early 2001 Dr. Duarte in "Successful Energy Sector Investing," correctly predicted that Venezuela's political problems could lead to an energy crisis in the United States.

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He has also appeared as a weekly guest on Market Mavens Radio, has logged appearances on KNX radio in Los Angeles, Financial Sense.com radio, and Wall Street Radio.

One of CNBC's original Market Mavens, Dr. Duarte has been writing about the financial markets since 1990.

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