Daily Trend Report on the FANG+3 stocks for September 18, 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 weak again today. The Dow Jones Industrial Average was down 244 points (0.88%), the S&P was down 37 points (1.12%), the NDX was down 143 points (1.3%), and the Russell 2000 was down 5 points (0.38%). Within the FANG+3 group, only TSLA was up on the day. The remaining six stocks were down. As suggested here yesterday, the daily trend did turn down today on both AAPL and FB, so now the daily trend is down now on six of the seven stocks in the group. The trend on TSLA is still officially up, but that is only because of the extreme “blow-off” nature of its rise into its Sept 1 all-time-high. Some suggestion of a rotation from large-cap tech into small-cap stocks was given lip service by the talking heads on propaganda financial TV today, despite the Russell 2000 being down on the day. Here are today’s educational trend-following-system screenshots:
(click on each screenshot to enlarge)
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