Goldman Sachs Group Inc GS 0.56% stock has done a whole lot of nothing since reporting a huge earnings beat on Oct. 17. In fact, after an initial sell-off, the stock is now down 0.3 percent overall in the two weeks since it blew analyst earnings expectations out of the water.

Here’s a closer look at what’s going on with Goldman and the key levels for traders to watch.

The major reason investors were initially skeptical of Goldman’s earnings beat is likely because the investment bank once again reported sluggish trading revenues. Fixed income trading was down 17 percent in the third quarter, and bond trading revenue dropped 26 percent. Extremely low volatility in global markets has made trading much more difficult for big banks.

In addition to a challenging trading environment, traders are watching Washington closely for three developing stories that could have huge implications for big banks. First, further indictments by Robert Mueller could potentially threaten the Trump presidency and its pro-banking policies. Second, House Republicans are reportedly considering a corporate tax cut plan that would phase-in the cuts over a five-year period rather than issuing them all at once in 2018.

Finally, and perhaps most importantly, President Donald Trump could announce the next Federal Reserve chair any day now. The decision could have major implications for Goldman and other banks, which rely on higher interest rates to boost net interest margins.

With all the uncertainty out there at the moment, it’s not surprising…

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