GM has been in a downtrend since the mid-60's in early June. As illustrated in the chart below, it is on the verge a generating a fresh Sell Signal on its hourly chart. Taking out last week's low at $47.07 would confirm a new leg down into the low $40's or below. The Oct 15th $50P is under $2.00. Stand-by for a new signal over the next few days.
