Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Google Pattern Resembles Double Top


Google's (Nasdaq: GOOG) nosedive off its recent earnings-induced new high at 519.00 extended into yesterday's low at 455.02, which was just above the prior pullback low at 452.34 on 12/21. Although GOOG has bounced a touch today, the fact remains that the Oct-Feb pattern resembles a big "M" formation -- otherwise known as a Double Top. A sustained break of critical support at 455-452 should trigger downside acceleration that projects to 420-415, and then to 400-390. My work is warning me that after the current rest-digestion period after the initial decline from 519 to 455, another serious decline should emerge.
  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!