Daily Trend Report on the FANG+3 stocks for September 16, 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 weaker than usual for a Fed day. The Dow Jones Industrial Average closed up 36 points (0.13%) although it was up as much as 368 points mid-day, the S&P was down 15 points (0.46%), the NDX was down 191 points (1.67%), and the Russell 2000 was up 14 points (0.92%). Within the FANG+3 group, all seven stocks were down today. The daily trend is down now on four of the seven stocks: AMZN, GOOGL, MSFT & NFLX. Today’s price action gave the appearance of a possible rotation out of large-cap tech stocks into small-caps, but one day hardly constitutes a trend. Here are today’s educational trend-following-system screenshots:
(click on each screenshot to enlarge)
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