Well it seems that GOOG has flat lined. If you notice over the last few trading days, GOOG seems to be keeping tight with the 21 EMA. At this point I'm waiting to see some clearer conviction before making a trading assumption about a direction. As GOOG is consolidating, I'm looking for two closes below the 21 EMA before I think the long trend has changed. So until the paddles come out to revive GOOG I'm just waiting.
This chart is a good reminder that there are times when a good trading decision is to decide not to place a trade. For now, since I don't know which way the freight train is coming, I'm choosing to stay behind the safety barrier, off the train tracks to avoid getting run over.
This chart is a good reminder that there are times when a good trading decision is to decide not to place a trade. For now, since I don't know which way the freight train is coming, I'm choosing to stay behind the safety barrier, off the train tracks to avoid getting run over.