Google Has A Fibonacci Retracement Support Level at 540.30

Google had earnings released after the close today and promptly traded as low as 549.00 after hours. As you can see from the charts, GOOG broke a trendline in place off the July 2009 low of 395.98 . Using a Fibonacci Retracement it looks like our first support will be at 540.30 .

Gold Futures

Gold Futures sold off today breaking breaking a trendline and the $1100.00 psychological support number briefly during Comex Pit trading. If gold takes out $1100.00 on Friday then look for the next major support at $1075.20 which was the December 2009 low after peaking at all time highs of $1227.50 on December 3, 2009.