The S & P 500 (SPX) is struggling to rise above 1100. But shares of Goldman Sachs (NYSE: GS) are well into an intermediate term decline





Chart Courtesy of StockCharts.com

Shares of Goldman Sachs made a new low since their October high on December 8. You could argue that the market was falling and Goldman was just another stock that fell on a bad day. But, if you look at the chart, you can see that Goldman seems to be falling on days where the market rises just as often.

That means that there are lots of sellers out there, and that the stock is no longer held in favor.

When you consider that Goldman is Wall Street's biggest investmen house, and that it makes money hand over fist, no matter what the environment, you have to wonder what's going on in the minds of the sellers.

And while that's hard to figure out until something happens, you have to consider that Goldman shares tend to rise or fall significantly before the overall market moves in the same direction.

In other words, if Goldman doesn't bounce back in the next few days to weeks, we are going to take it as a sign that the overall market could be in a difficult position at some time in the not too distant future.

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