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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (129231)	2/8/2006 5:47:19 PM
From: skinowski	Read Replies (1) \| Respond to of 209892

GOOG is wedging down towards the 62% retracement level of the advance since last August Still a long way till we can talk about any possible breakouts from that wedge, but... well, today the stock traced out a healthy looking hammer... as it tested its 144 dma AND the 62% retracement level of the August rally, reaching at its low the point where the putative "C"(or 3) was close to 127%of "A"(or 1). edit - note also the test of the support trendline on the daily. In the wiggles, the bounce so far is just a small three-waver... even tough the first little swing up looks pretty sharp. another edit - meaningful new lows would be likely to cause a free fall towards low 330's... as mentioned in the original post.