GOOG shares begin to confirm breakdown.

In this post and then again in this this post I called for an immediate and significant topping in GOOG shares.  I'm not talking about the$21 drop that occurred since I wrote,"In fact, probably...will peak at maybe $1145 or $1150 but then it will likely reverse itself in the middle of the trading day and break back down below the lower support of that tiny little 4th wave."

Since I wrote that, the shares popped to 1147.30, fell back into the channel, failed the back test of the support turned resistance line, tested and then failed to hold lower support and are now back testing from below.  If this cannot break back into the channel and hold it for at least 4-5 days then strongly consider abandoning Google airlines because the Ponzi Pumped shares are likely out of gas.

Having said that, there is a fair chance that the shares bounce back into the channel as they are at significant support right now (see red horizontal line).  As a result they could pop back up and form a set of Owl Ears as I like to call them, just an Illuminati jab at a declining double top.  Can you see the picture mentally?

The fact that these shares broke the lower support so easily, not even within a 3rd wave, likely means that any subsequent 15 dollar rally should be highly suspect and the smart money will be selling into it.  If owl ears form and then the graph breaks back down through lower support then smart traders will not need to see much more.  They will jump out of the plane and deploy their chute.