Elliott Wave Plus – Trend Report on the FANG Stocks for January 8, 2021

Sid Norris

Elliott Wave Plus

Daily Trend Report on the FANG+3 stocks for January 8, 2021

Scroll down to view today’s Trend Charts of the FANG+3 stocks (FB, AAPL, AMZN, NFLX, MSFT, GOOGL, & TSLA)

Today’s Summary

After a holiday break from posting the daily FANG report, here’s an update on what’s been happening with the largest, most-traded stocks known as FANG or FAAMG. Expect these updates occasionally moving forward, but not daily. Shown below are the latest screenshots of the seven covered stocks.

Interestingly, only one of the seven stocks has been rallying strongly recently, and that stock is Tesla, which made another new all-time high today. From an Elliott wave perspective, TSLA appears to be thrusting up out of a triangle since November 10, and the thrust to the upside appears to be in its 5th and final (blow-off) wave.

As for the other FANG+3 stocks, they all have different all-time high dates: Apple: Dec 29, Amazon: Sept 2, Facebook: Aug 26, Google: Dec 3, Microsoft: Sept 2, and Netflix: July 3. This indicates that the stock market is splintered, with only a select few of the large caps leading it to current all-time highs. Amazingly, the small caps have been stronger as a group than the prior leadership FANG stocks since late-October.

One more observation. Most of the FANG+3 stocks have been chopping sideways since their mid-year all-time highs. They haven’t been rallying in a trend, but they haven’t been breaking down either. Once again, from an Elliott wave perspective, sideways chop is corrective, and doesn’t necessarily indicate a larger trend direction. Long periods of sideways chop always eventually give way to trending price action. The question is, which direction? We’ll know when the our trend-following template tells us.

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

About Elliott Wave Plus

Considering our Elliott Wave & Hurst Cycle analysis in conjunction with indicator-based market monitoring can help traders decide when to get in, get out, or stay on the sidelines.  Please check out our resources page for lots of educational content.

Subscriptions: We offer a number of subscription levels.  Our unique approach is well worth considering, especially if you’ve never experienced wave labeling and associated Fibonacci price targets, in conjunction with independent Hurst cycle analysis. Here’s more info about subscribing to any of our plans.

Be sure to subscribe at our YouTube channel.   Follow us on Twitter & Facebook.

(There is risk of loss in all trading.  See the full disclaimer at our site.)


“Wow… that was excellent… by far the best webinar/presentation on the financial markets I have ever seen!  The grasp you have on all of the markets and financial news is remarkable.  Thank you very much for your work.  Regards,  A.L.”

“Your truncated 5th call was fabulous!  Holy Smokes Batman . . I’m in your fan club.  B.J.”

“Hi Sid,  Great job – another cracking week. Locked in a further $2,000 profit. EUR/USD and GBP/USD.  Keep up the great job.  Many thanks.  B.H.”

Click here for many more testimonials spanning the last ten plus years.