The Long Investor

$GOOG TOP 20

Added 2023-09-10 22:36:47 +0000 UTC

$GOOG and $AMZN continue to be rocks amongst the Mega Caps but the $GOOG chart is slightly concerning me now because I can see Wave 3 complete and in my last post about $GOOG I mentioned that I believe something my affect its chart but I could not explain what that is so I did some research and found that $GOOG have an important court case vs the USA starting on the 12th of Sept, which will potentially challenge their monopoly power.

This could trigger $GOOG to move down for Wave 4, as my chart suggests.....if $AAPL does decline to the 200 Day MA at $164, $GOOG may follow suit and both will present great buying opportunities.

However, I do not see $GOOG going all the way down to its 200 Day MA, which is at $110 right now....unless the ruling directs $GOOG to make drastic changes and the market does now react well to this.

For now, if $GOOG starts its Wave 4, a pull back to $125 is appropriate.

I will update this during the week and we will monitor it.