Quick Summary: Google (GOOG $388.44 3/30/06). Google went public in August 2004 in a dutch auction at $85 a share. We can count that as the beginning of its bull market, as it has done virtually nothing but go higher ever since … I would have to consider this entire advance, is only Primary wave I of a much larger cyclical advance … At the recent highs of $472 Major wave 3 completed. Then Google had it largest and deepest correction since its going public … During this correction, it was the first time that it had ever touched its 200day moving average. At the recent low, it appears to have ended Major wave 4 on a triple bottom at $332 … On March 23rd, Standard and Poors announced that Google will become part of their prestigious S&P500 Index. Google is already part of the Nasdaq 100 … GOOG continues to trend higher in what appears to be Major wave 5. This wave should take Google to at least new highs in the coming months. Charts posted on chart link.
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