GOOG... NASDAQ BELL WEATHER

It is just fitting to use GOOG as a TECH bellwether.  The chart below counts much clearer than the SPX or the DOW JONES.  The confidence in the EW pattern is very strong here due to the 3 wave move down from the highs of 2007 to late 2008 labelled as wave A.  The move to the highs that we are currently on are corrective with an expanded theme thus over shooting the 2007 high.  This is allowable in an EW rule making for wave B.  As expansion goes, they usually are contained within the range of the lows of 2008 and highs we are currently on, but this is not a sure thing so we should watch for market momentum to downside to see if it will exceed the lows or stay within our said range.  This Theory fits well with the Cycles being studied and EWs Theory as well.  Wave C will be Strong.  It will be fast, and it will be devastating to many who are not prepared for such event.  Cowan believes that going forward, the NASDAQ will be the leading Index of the future.  If this is the case then we should watch for GOOG to lead the way and for SPX and DOW to follow suit with the WAVE C down then followed with the rise in late 2016 or 2017.

I would also like to add to the GOOG chart below that green wave b to green wave c are subdivided into an ABC pattern as well that I did not annotate.  Also the weekly stochastics is diverging looking good for us to turn sooner than later.