Elliott Wave Plus
Daily Trend Report on the FANG+3 stocks for October 16, 2020
Scroll down to view today’s Trend Charts of the FANG+3 stocks (FB, AAPL, AMZN, NFLX, MSFT, GOOGL, & TSLA)
The Dow Jones Industrial Average was up 112 points (0.39%), the S&P-500 was down flat, the Nasdaq-100 (NDX) was down 46 points (0.39%), and the Russell 2000 was down 17 points (0.31%). Within the FANG+3 group, only one of the seven stocks (GOOGL) was up on the day. The daily trend is still up on all seven, although FB looks to be in danger of a possible trend change back to the downside as early as Monday. All seven stocks are still below their early September highs, and there was a definite loss of upward momentum in the group as a whole this week. Here are today’s educational trend-following-system screenshots, including on-chart commentary:
(click on each screenshot to enlarge)
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