Daily Trend Report on the FANG+3 Stocks for November 17, 2020

Sid Norris

Elliott Wave Plus

Daily Trend Report on the FANG+3 stocks for November 17, 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 down today except for the Russell. The Dow Jones Industrial Average closed down 167 points (0.56%), the S&P-500 down 17 points (0.48%), the Nasdaq-100 (NDX) was down 35 points (0.3%), and the Russell 2000 was up 6 points (0.37%). Within the FANG+3 group, four of the seven stocks were down on the day.  Four of the stocks are on buy signals (AAPL, GOOGL, MSFT, & TSLA).  GOOGL is still the only stock in the group that has broken above its early September high.  The rest are still in sideways mode.  Please examine our updated trend-following template, which now includes an overlay of AMA-System buy and sell zone boxes.  If one were to only to take Trend-Following System buy and sell signals that were within a confirming green or red “AMA-System” buy or sell zone box, the number of whipsaw signals over the past 3 months would have been greatly reduced.  This is the template we are now showing nightly for Trend Plan subscribers on over twenty of the most popular trading instruments out there, including the S&P, Nasdaq, Gold, Silver, Crude Oil, Bonds, EUR/USD, GDX, XLE, KBE, and more.  Here’s today’s free trend-following-system screenshots on the FANG+3 stocks:

(click on each screenshot to enlarge)

Today’s Daily Trend Charts

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