Daily Trend Report on the FANG+3 Stocks for November 16, 2020

Sid Norris

Elliott Wave Plus

Daily Trend Report on the FANG+3 stocks for November 16, 2020

Scroll down to view today’s Trend Charts of the FANG+3 stocks (FB, AAPL, AMZN, NFLX, MSFT, GOOGL, & TSLA)

Today’s Summary

The stock market was up across the board today. The Dow Jones Industrial Average closed up 470 points (1.6%), the S&P-500 up 41 points (1.16%), the Nasdaq-100 (NDX) was up 75 points (0.63%), and the Russell 2000 was up 41 points (2.37%). Within the FANG+3 group, five of the seven stocks were up on the day.

Moving forward, I’ve added some new indicators onto our daily trend-following template to make it easier to see how a stock is performing at a glace.  Here is the verbiage from the on-chart key:

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Trend Following Chart Key (including AMA Buy & Sell Zones):

– Up Trend Signal = A Solid Green Triangle under a candle that closes above the blue line.

– Down Trend Signal = A Solid Red Triangle over a candle that closes below the blue line.

– Bullish Trend-Continuation Signal = Hollow Green Triangle.  Indicates potential bullish breakout.

– Bearish Trend Continuation Signal = Hollow Red Triangle. Indicates potential bullish breakout.

– Hollow Diamond – early warning sign of an imminent trend change. Green = bullish. Red = bearish.

– Small Arrows = All trend signals, including “weak” ones.  Green = up. Red = Down.

– Blue Line = Suggested Trailing Stop.  Also indicates trend direction. If the blue line is below price,

the trend is up.  If it is above price, the trend is down.

– Brown Box = The trend is overextended. Be on alert for a significant trend reversal.

– Gray Zone = trend is weak or absent.

– Green and Red Boxes = Perry Kaufman’s original AMA Indicator Buy & Sell Zones

– For Trend-Following + AMA Buy & Sell Zone screenshots on over twenty of the most traded items,

see our Trend Plan Nightly Screenshots.

– For back-tested and optimized auto-trading signals, stops & exits, see our Premium Plan Nightly Reports.

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Here are today’s educational trend-following-system screenshots:

(click on each screenshot to enlarge)

Today’s Daily Trend Charts

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