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GOOG: Update


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608.30 is on the 120m chart (1 closing bar above 608.30 - partial bar)

608.64 is on the daily chart (1 closing bar above 608.64 - partial bar)



608.03 and 608.64 are the pivotal resistance levels

Today's open is potentially extremely bearish (gap-down open) similar in structure to 1/4/12; in the event we fail to close (daily) or closings/or openings at or above 611.46, then down to 488.11

Now Term: in light of the bearish open in the event we clearly trade below 603.50 (potential bounce level) then it's straight down to 598.13 to 594.95/595.00 (dn extension)




We clearly took out the 608.30 resistance level (120m) and it appears we've taken out the 608.34 (daily) resistance level

But far more profound is this

Today's open created exactly the same situation as on 2/10/12, but it's the now the opposite; it's extremely bullish providing we continuously close above 609.85; if so it takes us up to 639.57 (key daily pivot) I still show we will have a short lived pullback at 617.96 to 618.70; the pullback must stay above 613.79, otherwise it will not be short lived, in the event we fail to pullback as such, then expect a decent pullback at 620.00