We already know that Google at its very feistiest is not capable of taking Goldman’s place as a market leader. However, when the web-search purveyor is moving higher, it does lend some buoyancy to the broad averages, and when this effect is sustained for a few days, it can cause short-squeeze forces to build. With that in mind, I’ll note that GOOG’s so far impotent rally would become meaningful to the short-term outlook if the stock can muster the modest push to 539.60 needed to create a bullish impulse leg on the intraday charts.
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