It's easy to get sucked into the bullish vortex of media touting, especially on days like today when shorts are getting squeezed, and the crowd assumes the rally means Hillary Clinton will become the next president. It's true that Goldman Sachs (GS) stock has just made a new 52-week high, but this is misleading, because the stock still hasn't taken out the May 2015 peak at $215, not to mention the all-time high of $224 from October 2007.
Here's the weekly bar chart of Goldman Sachs stock, showing the clearly corrective bounce off the $137 low in February. Its lack of impulsive structure suggests that the February low will be broken, before the entire correction off 2007's $224 is over. Notice the stochastics have returned to overbought extremes, which historically implies at least a multiweek decline.