The buy signal for Goldman Sachs (GS) issued on 10/11/13 has been closed.

A buy signal was issued for Goldman Sachs (GS) at the close on Friday (10/11/13). This signal comes after four months of sideways consolidation with slipping sentiment. For the past month the stock has fallen back to the August lows, but sentiment has painted a positive divergence and has now broken back above the down trend line created during the stock’s consolidation. This is the second financial stock that has issued a buy signal recently. Well Fargo (WFC) broke its sentiment downtrend line last Tuesday (10/8/13).  Too early to call it a trend, but the financials might be breaking a different way than most pundits are predicting.  Many think that financials will be weak going into the end of the year due to a bad interest rate environment. Be aware that GS reports earnings this coming week.