The Long Investor

$GOOG TOP 20

Added 2024-07-21 13:41:06 +0000 UTC

$GOOG could not hold the yellow trend line on the retest but sunk right down to its 50 Day MA, which is in line with a lot of the Mega Caps this week.

Again, I have added the White Fib levels to show where the ABC correction would complete, nothing the Buy Zone on the 0.5 Fib which I mentioned earlier under the $AAPL commentary.

There has not been a break down yet and Wave 5 can still complete as shown if earnings heat up and they are positive with healthy guidance.

Earnings will have the most impact on these Mega Caps, everything else will be noise compared to this

So I don't believe taking any action right now with your holdings would be the right call to make.

The 50 Day MA needs to be lost, tested from below and then rejection to believe that the ABC correction is now taking place.