Tuesday's the Big Day!

In a previous idea I had suggested that GS had broke out of a falling channel and started rising. There wasn't a lot of time to establish a trend but after going sideways since Aug such a long consolidation can lead to quick, large moves. That pattern has been invalidated and it now seems that in the best case there was a backtest of the falling channel upper bound. In the worst case it's a big old false breakout. In either case this will be decided by the next candle which happens to be earnings day. I would expect something similar to JPM with an EPS but showing continual QoQ declines in EPS. The question is how much bad news has been priced in. Unlike JPM which got hit hard, GS was already recently hit with a downgrade and has gone down in sympathy with JPM. This could lead to any surprise upside sending shares higher. If it's a break down, though, the fall could be significant and take it back down to consolidate again in the mid-300s.