GOOG update 8/4/2015: did major 3 of Primary V peak???

GOOG made a huge run up on earnings a few weeks ago, and given that we knew price was in primary IV back then earlier, let’s see where V is now. The first thing we notice is that at $674 primary V=I and the white bull flag formation is fulfilled. Well, price peaked last Wednesday 7/29 at $679 and has since dropped almost 10%… this suggests that major 3 may be in (the move off the major 2 low to the $679 high can be counted very well as 5 waves up: see 2nd chart). If so then Major 4 is underway and should find support in the low $600 area; right about where price is now. The very bullish alternative would suggest major 3 is only intermediate i of major 3, but I find that less likely. Major 5 could then go to high $600s to low $700s or even $800s…

GOOG update 842015

GOOG update 842015b

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s