Daily Trend Report on the FANG+3 stocks for September 3, 2020
Scroll down to view today’s Trend Charts of the FANG+3 stocks (FB, AAPL, AMZN, NFLX, MSFT, GOOGL, & TSLA)
What a difference a day makes! The Dow Jones Industrial Average was down 807 points today (2.78%) , the S&P was down 125 points (3.51%), the NDX was down 649 points (5.23% !!!), and the Russell 2000 was down 47 points (2.99%). Notable today was the lack of a news catalyst that purportedly “caused” the plunge.
Every FANG+3 stock was also down big on the day. APPL was down 8%, AMZN 4.6%, FB 3.7%, GOOGL 5.1%, MSFT 6.1%, NFLX 4.9%, and TSLA 9%. Officially, the trend hasn’t changed from up to down yet on any of them. That will take some more downward price action. However, every stock in the group did move down past their respective blue ATR Volatility Stop level though, so virtually all daily FANG+3 trend-followers got stopped out today, and THAT is what caused the very large down day. Today’s FANG+3 screenshots speak for themselves. Here they are:
(click on each screenshot to enlarge)
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