GOOGLE Takes Down NASDAQ

NASDAQ Site Crashes On GOOGLE Earnings

As much as we all like to provide our personal opinion and or reactions to events on Twitter, those claiming foul might want take a look at the technical picture that gave traders a fair warning well before today's Google earnings release. While my specialty is the ES_F, I am aware of the general position of the NQ_F contract.  

Here is my long term chart of the NQ_F and the appropriate Fibonacci levels that  provide strong overhead resistance.  Under the long term chart, today's event, while destructive to an account, will be forgotten as I believe the wave count is incomplete to the upside. 

At the weekly chart level, I have a proposed scenario and count that ends in an ending diagonal where today's Google event coincides with a w.iv decline that should be followed by another rally. A print below 2505 would caution that the top may already be in place. 

Let's see how bullish investors remain committed to tech and more specifically Google and Apple. 

Best of Trading

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