Here is a daily chart of Google going back to its all time high of 475 this past January. I last commented on GOOG here.
Google has been underperforming the averages all year and this underperformance is continuing. I had expected GOOG to rally to 410 by the time the S&P reached the 1295 level but we are still well shy of that.
So I think that GOOG will now drop further than my original 356 target to 344 or so. Then we should see a move up into the 450-500 range as the averages themselves make new highs for the bull market this summer.
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