Courtesy of Read the Ticker.
There is something going on at GOOGLE.
Large down swings on high volume over the last 6 months. Kinda get the feeling the month end earnings report (April 27 2017) may have a few negative surprises. We have seen the stories that advertisers are unhappy with the shot gun approach used by google to apply advertising dollars. Some one is unloading!.
A high volume downswing can be bullish if the damage to the trend is not too bad and are infrequent, but when you see 5 down swings where the volume is greater than the up swing, you just have to conclude prices are being held up by the market makers to allow some big whale to sell at very good average prices.
Our readtheticker.com customised OBV tool (RTTOBV-Trend (Daily)) shows the trend has changed for the price volume pressure as it shows divergence. Warning, and suggest to investors be careful out there!
It is true however the Wyckoff law of Effort vs Results would suggest with all this volume on the down swing and it has yet to do serious price damage it can be considered bullish. This is true, however it still is not a great sign, while other stocks can be considered as they show better price and volume action health.
The point is the next high volume swing, maybe a feather that breaks the trend.
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Investing Quote…
..”Don’t trust your own opinion and back your judgment until the action of the market itself confirms your opinion”..
Jesse Livermore Trading Rule
…“People somehow think you must buy at the bottom and sell at the top to be successful in the market. That’s nonsense! The idea is to buy when the probability is greatest that the market is going to advance”…
Martin Zweig (The inspiration behind a number of Martin Zweig’s methods came, from Jesse Livermore).
..”it is better to have few stocks and to watch them carefully”…
Bernard Burach
..”If you have trouble imagining a 20% loss in the stock market, you shouldn’t be in stocks”..
John (Jack) Bogle
..“If it’s obvious, it’s obviously wrong.”..
Joe Granville
