Elliott Wave Plus
Daily Trend Report on the FANG+3 stocks for November 6, 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 mixed today. The Dow Jones Industrial Average closed down 67 points (0.24%), the S&P-500 was down 1 point (0.03%), the Nasdaq-100 (NDX) was up 13 points (0.11%), and the Russell 2000 was down 15 points (0.96%). Within the FANG+3 group, only two of the seven stocks were up. The daily trend is up now on five of the seven stocks, and all seven stocks are still on buy signals. GOOGL remains the only stock in the group to make a new all-time high in recent weeks. The majority of the FANG+3 stocks are still in a sideways patterns since the early September highs. Periods of sideways movement are generally followed by trending price action. Was this week the kickoff to a new uptrend? Next week could provide clarity. Have a great weekend! Here are today’s educational trend-following-system screenshots, including on-chart commentary:
(click on each screenshot to enlarge)
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