Ever since June 9th (the “tech wreck”), all eyes have been on the Internet giants to see if it’s just another small bump on the road to $10,000 per share, or if it’s a change in overall direction. I’ve got to say, looking at Google (oh sorry,“Alphabet”, I forgot they’ve changed their name to something that no one actually uses) it seems to me the excitement over $1000/share is going to get farther and farther away in the rear view mirror.
Amazon looks vulnerable too, but it doesn’t have nearly as clean a topping pattern.
The bears haven’t had a good, hearty selloff in EIGHTEEN MONTHS, so I hope that Q3 will change that. Watching the ES and NQ as they just opened up on Sunday evening, they’re both green (surprise!) – – things will probably be oh-my-God boring this week, or at least until Wednesday’s regular opening price.
