Daily Trend Report on the FANG+3 stocks for September 11, 2020
Scroll down to view today’s Trend Charts of the FANG+3 stocks (FB, AAPL, AMZN, NFLX, MSFT, GOOGL, & TSLA)
The stock markets were mixed today. The Dow Jones Industrial Average was up 131 points (0.48%), the S&P was up 1.7 points (0.05%), the NDX was down 66 points (0.6%), and the Russell 2000 was flat as a pancake. Within the FANG+3 group, only TSLA & NFLX were up slightly. The rest were down. Interestingly, the daily trend just turned from up to down on MSFT, and AAPL is now down 20% from its all-time high on Sept 2, just six trading days ago. Included in today’s edition is a trend following template chart on WMT, which is now down over 10% from its Sept 2 all-time high. This exemplifies that the formerly high-flying large cap tech stocks are not the only stocks that are backing off substantially in recent days. Large-cap blue chips like WMT are also struggling. If there is a “rotation” going on, as some pundits in the financial media proclaim, buying appears to be occurring in a very few selective stocks. Here are today’s educational trend-following system screenshots:
(click on each screenshot to enlarge)
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