Rohit Srivastava: ' This is a free update on the markets for public reading. My views are based on my analysis of the markets after years of such analysis, since 1991. Investment decisions made on the above analysis would be at your own risk and I take no responsibility for your decisions based on the above analysis.'

Rohit Srivastava: ' This is a free update on the markets for public reading. My views are based on my analysis of the markets after years of such analysis, since 1991. Investment decisions made on the above analysis would be at your own risk and I take no responsibility for your decisions based on the above analysis.'

NetFlix is in wave 5 near the upper end of the channel. It is hard to say whether the pattern is complete but should be in the late stages. Volumes have been falling for a year, and at the lowest level of the last 5.

Amazon sold off from the 5th wave position discussed last week. So how did Google do? I have covered this chart twice before, once in 2015 projecting 5=1 to 1100. Then I considered the 2014 period as a triangle. It still is. But one change. In 2016 I marked the rise as an ending pattern. After that prices formed a running triangle. So this running triangle is also a 4th wave. Running triangles happen in the final stages of a move so the 5th wave forming now is the final advance for Google long term. I cannot say that it is over but the next trend reversal would be important long term. The trendline of all the highs is at 1060. Once the 5th wave completes we will dip back below the 800 mark.

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