GE - renewed weakness

General Electric (GE) saw a powerful bullish reversal on Friday, yet that has been largely negated today, with the stock settling -6.7% at $22.24. The Friday pre-market spike low of $21.48 remains very important. A monthly close under the multi-decade key threshold of $22.00 is unlikely.


GE daily

GE monthly.

Summary

There is little to add from Friday.

Clearly, many are now awaiting the investor meeting of Nov'13th, for some clarity about what the new CEO's plan is.
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The main market is threatening a s/t top from sp'2578. If the main market is indeed finally in the very early phase of a 4% cooling wave into early November, then GE will remain under sig' pressure.

The $22.00 threshold is very important when seen on a multi-decade chart. If the stock settles Oct' or Nov' under <$22.00, and if the CEO's plan is weak, then next big target are the $13s by mid 2018... even if the main market remains hyper strong to sp'3K next spring.

To be clear, s/t bearish, but I'm leaning m/t bullish, with no monthly closes <$22.00.