Monday, January 9, 2012

GOOG Has Topped

GOOG fell over 4% today confirming a wave B top of a very large flat correction that began January 19, 2011.  The target is below the wave A low of 473.02, possibly down to 450, but it should not fall below 433.63.

While GOOG has topped, the SP500 still has room for upside with targets between 1300 to 1340.  However, we need to see a solid close above 1300 to feel confident that the rally will continue.

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