GOOGLE - 4 REJECTIONS OFF 120 -SHORT TO 105 BY SEPT
Updated
4 rejections off 120
Not Participating in Tech Rally = Weakness
MACD Histogram negative – Divergence
RSI Overbought
IF = Google BREAKS - VWAP AT 117
Bear Put Spread - 117 / 105 - 40% PROBABILITY =
1 RISK FOR 3 REWARD Potential Sept 3 Exp
THE BIGGER PICTURE FOR GLOBAL TECH IS OVERBOUGHT AND NEGATIVE
CPI NEXT WEEK
FED HIKE SEPT
TIGHT JOB MARKET = HIGHER WAGES AND COSTS
GOOGLE LAYOFFS
EUROPE RECESSION
CHINA SLOWING
WAR AND TENSIONS
Not Participating in Tech Rally = Weakness
MACD Histogram negative – Divergence
RSI Overbought
IF = Google BREAKS - VWAP AT 117
Bear Put Spread - 117 / 105 - 40% PROBABILITY =
1 RISK FOR 3 REWARD Potential Sept 3 Exp
THE BIGGER PICTURE FOR GLOBAL TECH IS OVERBOUGHT AND NEGATIVE
CPI NEXT WEEK
FED HIKE SEPT
TIGHT JOB MARKET = HIGHER WAGES AND COSTS
GOOGLE LAYOFFS
EUROPE RECESSION
CHINA SLOWING
WAR AND TENSIONS
Note
BEAR PUT SPREAD IN PLAY --SEPT 2 EXPIRATIONTrade active
Breakout proved to be FALSE - adding to the options
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