#tradealert GOOG is approaching the 50% retracement of the move from 487 to 527 and has broken below the 786 of the prior move to the high. This is a bearish sign and failure to hold 532 will send GOOG lower to 521.Possible short opportunity.
WTI futures are weak heading into the market open. Expect WTI to regain some of the losses up until the market open, but will sell off the rest of the trading day. Trading the ETF USO, you have a nice Gartly pattern forming with support at the 16.50 level. This has good confirmation with the 707 retracements in the pattern. You can sell the USO, with a stop above...
GOOG is finishing a ABCD pattern that had a retracement move that failed to put in a new high. This was a significant fail and GOOG has sold off through all major Fib support levels and is now approaching the .786. If GOOG holds this level it could begin another ABCD upward pattern. A fail below the 786 would signal a short opportunity to 528, another 10.00 move...
