Google’s Fading Waves

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Ever since 2008, Google has been in an uptrend, but take a look at this chart and the V-shaped bottoms I’ve drawn on top of it:

0719-GOOG

I’m sure you’ve noticed that each successive wave is significantly smaller than the prior one. It’s as if the strength has its own half-life. Considering today’s hearty sell-off, and the increasing puniness of each upthrust, I’m thinking GOOG isn’t going to see the much-ballyhooed $1,000/share Big Round Number. On the contrary, I think we’ve probably seen this year’s highs already this week.