Daily Trend Report on the FANG+3 Stocks for November 18, 2020

Sid Norris

Elliott Wave Plus

Daily Trend Report on the FANG+3 stocks for November 18, 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 across the board today.  The Dow Jones Industrial Average closed down 344 points (1.16%), the S&P-500 down 41 points (1.16%), the Nasdaq-100 (NDX) was down 82 points (1.69%), and the Russell 2000 was down 22 points (1.16%). Within the FANG+3 group, five of the seven stocks were down on the day.  Four of the stocks are still on buy signals (AAPL, GOOGL, MSFT, & TSLA), but they appear to be rolling over, and MSFT is nearly back down the the ATR Volatility stop (blue) line.  As a reminder, please examine our updated trend-following template, which now includes an overlay of Perry Kaufman’s original AMA-System buy and sell zone boxes.  By utilizing trend-following signals that are confirmed by AMA-System buy or sell zone boxes, whipsaw signals during sideways markets can be reduced substantially.  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 many more.  Here are today’s trend-following-system screenshots on the FANG+3 stocks:

(click on each screenshot to enlarge)

Today’s Daily Trend Charts

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