Google has been dancing around the range high (1725 of rectangle) for 2 months now. Most of FAANG has underperformed recently. The reflation trade has begin to show real signs of life and tech has seemed to be where people are leaving. The question is how to trade the next move? At range highs and lows is where I like to make decisions because they are defined risk/reward opportunities. If we can clear above the range high and the trendline the play will be to the upside. If we get more selling and we break the low of the more near term range (smaller rectangle 1694) then the play will be to the downside for a short term trade. Absolute rate of change has been weak so I am leaning bearish but I will wait for price to confirm. If google bounces back strong and rate of change confirms the move then I will turn bullish and play the breakout.
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