A good time to step aside and let Google fall — to as low as 627.24 if the pattern shown (see inset) fails to retrace above 705.50. If not, its 666.37 midpoint support would logically become our minimum downside objective for the near term. Alternatively, the downdraft was so sharp that there are no good handholds for camouflageurs to leverage for buying purposes. A jerry-rigged ‘external’ peak at 706.18 might serve, but this would be expert play for even the nimblest of traders. _______ UPDATE (November 5, 12:24 a.m. EST): I’ve updated the chart to show not only that Google has not exactly come roaring back from mid-October’s devastating, one-day plunge, but that it would take an unpaused thrust exceeding the 706.70 ‘external’ peak shown to hint of a resurgence by bulls. Broadly speaking, this is not how stocks in bull markets are supposed to act.
