Daily Trend Report on the FANG+3 Stocks for September 17, 2020

Sid Norris

Daily Trend Report on the FANG+3 stocks for September 17, 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 weak across the board today.  The Dow Jones Industrial Average was down 130 points (0.47%), the S&P was down 28 points (0.84%), the NDX was down 166 points (1.48%), and the Russell 2000 was down 9 points (0.63%).  Within the FANG+3 group, all seven stocks were down again.  The daily trend is down now on four of the seven stocks: AMZN, GOOGL, MSFT & NFLX, and the trend is likely to change from up to down tomorrow on two more:  APPL & FB.  There was no evidence of a rotation out of tech into blue chips or small caps today.  The only indication of a potential short term bottom of any kind was today’s doji candle in AMZN & GOOGL.  I’ve included bonus screenshots of DIS & WMT.  Here are today’s educational trend-following-system screenshots:

(click on each screenshot to enlarge)

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Today’s Daily Trend Charts

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