Surely you’ve read by now that Google is going to can 12,000 people. Incredibly, that is a mere 6% of its worldwide workforce. I have no idea what these people do. Honest to God, Google to trim down to 500 people total, and virtually no one would be able to tell the difference. Sure, new product development would slow to almost nothing, but I’m sure we could all live without Google Wave or anything else they dreamed up.
Looking at the chart below, Alphabet’s wipeout was stopped hard at its life-long ascending trendline. On the other hand, those red circles show the steady beat-down of lower highs. I suspect this rally is over as of just about………….now.
