GOOG Earnings

GOOG reports today at 4:30, this will be a big event for the market. The most stressful calls have to be earning's calls, I don't like making them, but I have in the past to illustrate that there are often leaks that Wall Street trades and you would never know it by the price action. The last time I made a GOOG earnings call it was correct, not on whether they beat or miss, but the market reaction, a miss or beat is irrelevant, it's perception moving forward.

So this is not a call, but do with it as you like, just remember that last time we did GOOG we were right, but the signal didn't come until the last 15 minutes of the day!

 GOOG 1 min-I know-it's like a maze, just follow the divergences. Green at the left is confirmation of the move up, the red square shows GOOG hitting new highs, 3C was in a leading negative divergence, this morning we saw some accumulation (white) and made new highs, which were negative divergences, both in leading terms (small red box) and in relative terms (long red arrow) because 3C was at a certain high at 2 pm Oct 11, prices were lower then they were at today's intraday highs, 3C should have been higher as well to confirm the new high, instead it was at the same spot, which would imply there was selling/distribution there. The last red arrow on the right, GOOG has made two relative highs, 3C has moved lower. This is a close up view of the 1 min.

 Here's the wide view or big picture of the 1 min, a leading negative divergence.

 The 5 min shows accumulation this a.m. and negative divergences from the resulting move up.

 The 15 min wide view shows GOOG at a new high just about, but 3C is lower then the previous high. The white area is heavy accumulation that moved GOOG up.

 Close up of the 15 min chart shows price moving up and 3C flat.

 The 30 min shows a very big accumulation area at Oct 4-5, but again, 3C is not making those new highs.

And one again on the 60 min, a leading negative divergence.

Now in a lot of ways this mirrors the market (A rising tide lifts all ships), I would prefer the market looked totally different, but it is what we have. Lets just say that based on this,  would not buy GOOG for an earnings play, nor would I want to hold it long.