Here's some more research that was floated out on the street, by Westrock Advisors. Those that live or die by the charts may find their views of the charts interesting.
MARKETWATCH - STRATEGIC REVIEW - gold, dollar, stockmarket, bank stocks...
originally published November 24th, 2009
Gold is now pushing deeply into critically overbought territory on its RSI indicator, so consolidation/correction can be presumed to be imminent. Look for the gap with the 20-day moving average, shown on our 1-year chart (the green line), to be closed in the near future.
All the world loves a winner and with Goldman Sachs' uncanny ability to turn every situation to their advantage, its stock has staged a glorious recovery this year, tripling in price from its low early this year. However, it is doubtful that the western world's prevailing view that this company will always come up "smelling of roses" is shared by the Chinese and others who are likely to play an ever greater role in determining its fortunes. So perhaps it is not so surprising that its stock price is now rolling over in an ominous manner and looking increasingly vulnerable to a plunge, which if the broad market breaks lower could be precipitous - made worse by the widespread view that this company "can't put a foot wrong".
JP Morgan also looks vulnerable to a severe drop in the event of the broad market and bank stocks breaking lower, which would be triggered by failure of the support in the $40 area.