Google (oh, sorry, I forgot to use the stupid name that no one uses – Alphabet) had a pretty bad day. I’m sure the management is a bit baffled what the hell they are supposed to be doing, since blowout earnings don’t help the way they used to. Even though the stock exploded higher yesterday afternoon, it barfed all over itself Tuesday.
The long-term bull trend remains unbroken, however. Unless………….and this is a big one……the stock drops below $1000. That would do two things: (a) it would by definition be a big psychological break (b) more important than the four-figure failure, it would break a trendline that has been in place for ist entire history.