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)
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:
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.
Here are today’s educational trend-following-system screenshots:
(click on each screenshot to enlarge)
About Elliott Wave Plus
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