TECHNICALS-GOOG

One of the reasons for the relative underperformance of the NDX is the action in GOOG. It has fallen from its recent high in mid November near the $510 level to near $455 today. There is a gap on the chart to be filled near the $440 level so that maybe a short term stopping area although it seems to go down every day with decent momentum.

The stock is now up less than 10% for the year and that compares unfavorably with some recent winners like MSFT which is up almost 15%. Funny how GOOG is rarely mentioned by the journalists on bubblevision.