GOOG reports earnings after the Monday market close. I expect a big move, as do many. GOOG is one of the FANG stocks that have accounted for approximately 60% NDX 100's gains in 2017 and a significantly to the SPX's gains in 2017. The direction of this stock has a big impact on the direction of the over all market.
If Tuesday morning the stock pops, then i expect this stock and the market to rally all the way back to the January highs. If this stock drops, I expect this stock to test the $1000 area (green line on chart). I also expect the market to also follow GOOG down to retest the January lows.
hourly
A look at the GOOG on the hourly you can see the hourly indicator has rolled over. If earnings are good, forward guidance does not have any major revisions, and no changes to buybacks, the indicator could easily headlock higher. Stoch RSI has already headed down. I also encourage you to widen the OBV oscillator to to notice that it has been unremarkable during the recent upswing.It has stayed flat.
If Tuesday morning the stock pops, then i expect this stock and the market to rally all the way back to the January highs. If this stock drops, I expect this stock to test the $1000 area (green line on chart). I also expect the market to also follow GOOG down to retest the January lows.
hourly
A look at the GOOG on the hourly you can see the hourly indicator has rolled over. If earnings are good, forward guidance does not have any major revisions, and no changes to buybacks, the indicator could easily headlock higher. Stoch RSI has already headed down. I also encourage you to widen the OBV oscillator to to notice that it has been unremarkable during the recent upswing.It has stayed flat.