Alphabet (GOOGL) Sitting On Channel Support

Google is another name I'm watching closely to give clues as to whether markets take another leg lower and if so, how deep that move may be.

If price breaks, 1,000 is the next obvious level to watch. To paint a more bullish outlook we need to see a strong move away from the bottom of the channel and back above the January high.

Given the failed breakout above the Jan highs though, I'd say the risk is to the downside but i'll wait for price to tell me what is happening next.