Eventhough there is not much of reversal patterns to compare with recent price action, GOOG has formed important reversal level at 473 which become a mean for this week.
How is 473 a reversal level? Simpy due to the fact it's the HOD and it's trading a couple of points lower?
No, 473 was established as price crossed my reversal indicator. I have used the same approach to forecast 1-3-06 reversal in QQQQ on this forum so some members asked me to do the same for a GOOG.
LOL, thankfully GOOG bailed you out as you post on the close. Nice call, nonetheless, but it would've been nice had you not waited for the shares to trade almost 3 handles off the HOD.
I am pretty confident to post indexes ahead of time but when single stock runs like that, I was waiting for a confirmation. We will see in couple of days if it was just a hiccup on the way up or significant reversal .
I do but can't post them on public forum . I will be limiting my presence on ET from now on , anyone who wants to talk to me, please use pm or email in my profile.