Thursday, December 08, 2005


Here is an updated hourly chart of Google.

Since GOOG had made a lower top around 420 I expected it to react to a lower low around 390. But as you can see yesterday's action formed a small base at a higher low instead, and this morning GOOG is accelerating to the upside out of this base. This convinces me that GOOG will not drop to 390 and instead is now on its way to 440.

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