Tuesday, April 21, 2009

Google Downside Reversal? (Chart)

On Friday morning, I wrote Google Upside Blow Off. It appeared to me that Google was blowing off to the upside and that a short squeeze was taking place. Friday's close was also suspicious.

Action today could be signaling a downside reversal in Google. So far the low is in the critical 380 area. If 380 is breached it would signal additional downside in Google.

Short term investors should be extremely careful. Longer term investors need to be watching closely for a change in trend.
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