can't catch a break... if you're looking for signs of a momentum shift in a leading name, look no further than the price action in GOOG today. GOOG has gone from weakness getting bought to strength being sold, as evidenced by the move lower after today's gap up. A close above $883 is needed to reset the chart. While below $883 GOOG's path of least resistance is to the downside. Expect the monthly low of $847 to get tested.
Low volume today for all 3 titans: GOOG, MSFT and AAPL. Chinese "shakedown" was harsh, most stocks still recovering, and those who sold yesterday need 3 days to settle, so wait till Friday. 847 is unreal, 870-890 is more reasonable. If the market in general won't go down then we'll see another run to 900 this or beginning of next week
847 unreal??? it's a stone's throw 2.4% away from current prices... I clearly outlined why GOOG is in trouble in my previous post "Can GOOG Fall To $800?" -- i suggest reading it. resistance is 878-883... below it and it has not choice but to test 847.. short these 870 bounces, they're weak as hell