I think GOOG looks very similar to the market and AAPL so I don't expect much to be different in the way it moves or the set up there. I'm going to start with the bigger picture in GOOG or the reason I like GOOG short and work to the shorter term tactical entry/add to charts.
GOOG's weekly chart, a few things stand out: 1) parabolic moves in the past, even within a range have tend to end badly 2) Volume for a breakout move out of a nearly 3 year range is non-existient, not a good sign 3) this last move is parabolic and really has no support at all built in during the move off the June lows- 2012, it's very exposed.
Here's a closer view, recently the weekly candlesticks have deteriorated for the first time on this move, again there's no pullbacks that would give GOOG support on a move down, this is really a nice candidate for a parabolic decline.
Here's the Linear regression channel, today's move wasn't good.
The 30 min chart shows a couple of areas I'll be watching for a GOOG short or add to, the gap from today will probably be filled so that leaves a breakout move as the most probable outcome.
The daily GOOG 3C chart is pretty ugly on this parabolic move out of the nearly 3 year range, we don't often see divergences like this on a daily chart, these should be taken seriously.
The 60 min chart went from confirmation to a negative and then leading negative divergence, that's quite a change in character for a new high.
Here's the same with sharper detail on a 30 min chart, the change in character is quite clear, retail doesn't move a chart like this in a stock this big.
GOOG's 2 min chart saw similar short term positive divergences today which isn't surprising so it should be a near term candidate as well.
GOOG didn't see very strong intraday positives today, 3 mins is about as far as it made it, so I'd suspect GOOG may be in an even weaker position, definitely one to keep on the radar.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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