Way back on August 13th I added GOOGL as its chart was okay, I had a limited bull view of the market (to the now dear departed SPX point 5) and well, it’s Alphabet, a company that I think is fairly awesome. It’s also my largest single stock holding (among many across several sectors that make sense to today’s macro) other than a gold explorer that shall remain nameless (publicly).
Anyway, here is Google poking a new high. It’s at 11.3% and it’s been the quietest, easiest 11% I’ve ever had because I’ve just checked in on the chart once a week (in the NFTRH+ Charts & Notes segment) and let it be through the ups and downs.
What’s more, the weekly chart says that if the breakout is real and not a bull trap, it’s going to 1600. That’s what it says. So, is it real? Is this market move real? SPX is on day 4 above the bull turnstile. At some point the bear trap scenario would get drowned out in a holiday punch-soaked orgy of bull enthusiasm and momo.
So, is this real?
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