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GOOG cracks in the aftermarket

The warning sign that I worried about here has indeed materialized, as shares in Google (GOOG) tumbled 5% to near its 20 day moving average on what most consider the good news of beating its earnings estimates. This may turn out to be a garden variety “buy the rumor, sell the news” reaction, but it also might be an important warning signal that the long grind upward is nearing at least a temporary end. GOOG was trading at $565.44 a little past 5 PM Eastern Standard Time.

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