Google Inc. (NASDAQ:GOOG) is selling sharply again on overall market weakness. It is trading lower today at 556.88, -12.68 (-2.23%). Google has been hammered over the last month and down sharply off the 2011 and 52 week highs. On January 19th, the stock hit its 2011 and 52 week high at $642.96. Since that point, Google has fallen sharply, hitting a low today of $556.06.
Commodity-Linked Currencies Could See More Selling Pressure
The drop in demand for risky assets pressured the commodity-linked New Zealand, Australian and Canadian Dollars on Monday. The AUD USD chart suggests that downside momentum is building which should drive this market through the most recent bottom at .8067. The main trend turned down in the NZD USD late last week and continued lower on Monday.
Risk Adverse Traders Selling Higher Risk Stocks and Commodities
Fallout from the SEC/Goldman Sachs situation is pressuring U.S. equity markets overnight. Last week’s closing price reversal top in the June E-mini S&P 500 has been confirmed which sets up two scenarios. The first scenario calling for a daily chart break to 1190.75 has already happened. The second scenario calls for a break to 1178.75.
Stock index futures ended the day lower after bids were pulled late in the session allowing the market to plunge to new session lows. Although the December E-mini S&P 500 made a new high for year, the inability of the Dow and NASDAQ futures to follow-through to the upside created a bearish divergence that helped weaken the market throughout the day.
Dollar Index Reaches 15 Month Low on Massive Selling Pressure
SPY - technical analysis and suitable options strategy
Nasty Day Ends With All Indexes Suffering A Distribution Day; Day Six For DJIA And SP 500 Officially Puts The Rally Under Pressu
For those that do not know what that means, it means that it is time to raise cash by selling down some of our longs. We recently have gone long quite a few stocks that have performed very well. Some of you made the right decision and took a lot of profits when some were up 20% to 50%. That was very smart.