Elliott Wave Plus – Daily Trend Report on the FANG+3 Stocks for December 14, 2020

Sid Norris

Elliott Wave Plus

Daily Trend Report on the FANG+3 stocks for December 14, 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 mixed today, and all stock indices closed near their lows for the day.  The Dow Jones Industrial Average closed down 184 points (0.62%), the S&P-500 was down 15 points (0.44%), the Nasdaq-100 (NDX) was up 86 points (0.70%), and the Russell 2000 was up 2 points (0.11%).

Within the FANG+3 group of stocks, five of the seven were up on the day.  Only four of the seven stocks are still in green “buy zone” boxes.

Elliott wave wise, the ending contracting diagonal I’ve been talking about in the Dow Jones Industrial Average squeaked out an ever so slight new all-time high early in the session today, but the terminal pattern is still legit, and likely complete.  All indices spent the rest of the day selling off pretty hard.

Here are today’s Elliott Wave Plus educational trend-following screenshots for the FANG+3 stocks:

(click on each screenshot to enlarge)

Elliott Wave Plus – Today’s Daily Trend Charts

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