source avatarTrader Steve

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$GOOGL held up far better than the index in last week's tech selloff, and the pullback is drifting into a zone where several reasons stack up. I lean long. Not at market, though. 4h downside momentum is still expanding, so I'm waiting for a limit fill lower in the range. GOOGL has spent October inside a box. The selloff pushed it to the bottom. Since Oct 7 the Nasdaq 100 is down 6.3%; GOOGL is down 2.8%. Why the zone matters: - The early-October swing low and the liquidity under it - A deep retracement of the last up-leg - The lower daily Bollinger band All four technical methods pointed there. Agreement on direction, not on strength. Divergence carries the most weight. Hidden bullish divergence prints on 4h, 12h and daily at once: price lows rising, RSI lows falling. That reads as a pause inside an uptrend, not a breakdown. 1h RSI is lifting off oversold. Where I'm wrong: lose the early-October low and the divergence loses its anchor. The stop sits below that low and the daily 200 EMA, where the higher-low structure since September ends. Risks: Q3 earnings land late this month, maybe alongside a rate decision. High yields and tech rotation remain a headwind. Published by YTIlab · OMNISIGHT REPORT Not investment advice. All decisions and responsibility are your own.

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