I posted the early chart of Google, which showed weakness and I said if the stock didn't recover the 200 Day moving average that 550 would come into play. Well, this chart was posted just before 11 this morning.
Then, in late session trading, Google really tanked. The stock closed just above 555 on huge volume. It's a signal to me that 'smart' money took capital off the table and put it into their pockets for safe keeping. I always watch market leaders for this reason - it gives you a glimpse as to what market insiders think about the current state of stocks. At this moment - the smart money sold today.
Stephen Moran lives in Las Vegas with his beautiful wife, baby Kiana, and two dogs.