Regardless of how big of a time frame, five-wave impulses show the direction of the larger trend. On the 15-minute chart of Goldman Sachs (GS) stock we can see a complete 5-3 Elliott Wave cycle, so we should expect another sell-off for wave (3)/C. Furthermore, wave (2)/B seems to have ended exactly at the 61.8% Fibonacci level, which is quite typical for second waves. If this is the correct count, prices beneath 167 are expected, as long as the invalidation level of 177.40 holds.











