Google Inc -GOOGL-Daily -Rolling over - Targeting 550-545

Google Inc not only failed to make an all time high along with the market, but now it is rolling down from a level where buyers were supposed to be there ready to support the stock. The green line shows you key quarterly support and resistance for GOOGL. Above the green lines, be bullish. Below the green lines, be bearish.

The market is weak today, but GOOGL is weaker. The relative strength of GOOGL to the market has rolled over quite a bit.

Also in the news today - you hear stories that GOOGL denied that they might want to buy companies like EBAY (trading at ONLY 2 times sales, while GOOGL trades at 6 times sales) alerts me that we are in a tenuous situation where earnings and revenues have to come from acquisition and "mark-up" from buying earnings and sales. The earnings gains in the market overall have come from stock buybacks and leveraging the balance sheets of corporate America. The oddity is that companies are buying back their shares at elevated prices instead of soaking up shares when they are trading cheap. Stock buybacks historically are bullish, but only when prices are down.

Good fortune to us all.

Tim 3:10PM EST 9/12/2014 Friday