If you’re looking for a way to get bearish on the NASDAQ with a high-volume, tight bid/ask option, you could do a lot worse than Alphabet (GOOGL). Take note of the broken trendline which was closely approached this week. We’re finally getting a fade, and I’d say this trendline represents powerful resistance now.
Here’s the longer-term view. The fact that GOOGL wasn’t able to best its former high is also a good sign for the bears.
