Goldman Sachs News Rocks Markets

04/16/2010 12:15 pm EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

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The SEC announcement on Goldman Sachs (GS) after the market’s opening has caused sharp declines in all of the major markets with gold down $22, oil down over $2, and the S&P 500 losing over 19 points. The daily chart shows that support at $169.50 has been violated today with next major support in the $148 area and volume already quite heavy. GS has rebounded from the day’s lows at $155.

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