Tuesday, August 11, 2009


GOOG went up to the yearly R1 pivot(purple line marked R1), and the Monthly R1 pivot(green line marked R1) at $465 last week, and investors/traders took profits there. Remember R pivots = resistance(sellers), and S pivots = Support(buyers). The 20/21 day moving averages(yellow lines) are still pointing up, but you have to respect the pivots. Those yearly/monthly R1 pivots at $465 could be Googles high for this year!