By: Scott Redler
In this latest leg up for the markets, Google (GOOG) is the first of the leading stocks to show some technical damage. Prudent traders sold their longs as prices broke through $620-622, the level corresponding to its ascending trendline. Some active traders profited on the short side upon that break. This is the first real technical kink in the armor of the young 2010 rally and we need to see whether that damage is contained to Google, or if it spreads.
