Anyway short interest in GOOG has gone down all this time which mean that betting on stock price decline has decreased. That's good news. (Source. Dataexplorers)
Option data shows that put to call ratio has been constantly between 0,5-0,8 in recent weeks. This means that investors are betting on rising share price. There might be some heavy option action today as well so this needs to be looked at.
And in the end something for technical analysis fans. Google's share price has stayed in a range of 480-550 for quite a while now. If we were in a down trend then subsequent falls would make significantly lower lows after the initial fall. Staying in a quite narrow range might indicate that we are actually in an uptrend and we might be in the end of the correction. This kind of correction would usually end with a nice spike upwards.
Once again, I'm staying long into earnings. Now all Google has to do is deliver.