The Bearish Interpretation of $GOOGL

This is what the bearish interpretation of $GOOGL would look like. If today is a low, it would interpret today’s move as a deep underthrow of a leading diagonal, after which we may expect a bounce to blue b. If the move from here to there is a clear impulse wave, I would have greater confidence that today was a low of significance. If the move is a choppy, 3-wave corrective move, then we may expect another leg down that would carry us at least to blue c.

GOOGL

My bias remains bullish here; I am only posting this alternative as a hypothetical thought. This will be filed under observations because I am not calling for this in particular.


[UPDATE]: Since we got the rally to blue b (green arrow), I will file this under “Successful Calls.”

GOOGL


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