Stocks moved higher this week, but Google (GOOG) did not partake and fell rather sharply. Notice that the stock broke the November trend line and filled the 2-Jan gap. Yes, GOOG is below its 2-Jan open . The price relative (GOOG:SPY ratio) turned down and broke support this week. GOOG shows relative weakness as we head into earnings next week.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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