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End of Buy Signal for Google

At the close on 3/14/14 the buy signal for Google (GOOG) that was issued on 8/20/13 was finally closed. This was a trade that just kept on giving and ended with a 35% gain. Sentiment has now broken below the trend that created the buy signal which officially closes the trade.

We currently have only two buy signals left open which is another sign that the market may be forming a top. When long positions are being closed, consolidation warnings are starting to show up, and very few new long signals are being generated it suggests that traders on Twitter and StockTwits are getting cautious.  The two open signals are Yelp (YELP) and Bank of America (BAC).  Both of them are showing weakness and will need to rally quickly to save them from closing.

 
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