Google Enters Bear Market Territory

GOOG has now dropped over 20% since its July high, bringing the stock into bear market territory for the first time in 7 years -- since August 2011 (both time periods marked on chart.)

I remain bearish on Google for the remainder of 2018. Macroeconomic conditions and trade tension combined with an over valued market and much needed correction in the technology sector are making an end of year rally for U.S. equities seem increasingly unlikely.