Golden Goose:
Perhaps it is unfair to compare GS to your traditional money center banks, but it is the 7th largest holding in the XLF comprising 3% of the fund. Looking at the performance against other top components in the ETF it has weighed. On a YTD basis, it is lower by 3%, in line with JPM, but is lagging other names with the likes of WFC, C, and BAC up 20, 10, and 9% respectively in 2022 thus far. GS still sits firmly in correction mode 14% off most recent 52 week highs and is below both its 50 and 200 day SMAs. It is approaching a gap fill to the upside from the 1/14 session which dropped 7% on 1/18, and on a WEEKLY basis it fell 10% on the largest WEEKLY volume since March 2020. The stock has not recorded an accumulation week in 10 months and the chart feels heavy. Does the stock still carry the same pull as it once did? In my humble opinion, it does not, but it is still widely followed.