All FAANGs are slipping below important moving averages. Below are just a few updated charts.
Facebook dives below the 100-day average.
Amazon briefly tried the 200-day average but is now “firmly” back below it.
Apple is the big dog and all major moving averages remain far away (way higher).
Netflix, which was up 55% in 100 hours during the last squeeze, is dipping below the 200-day average.
Google tried the 100 day average a few days ago, but has fallen below it again.
Forget the real bull without the sentiment FAANGs. Big NASDAQ (CCMP index) tried the negative trend line but has reversed lower and is sitting on the huge 7000 level, right at the 50-day average. A break below it and this could become fluid again.
(A gentle reminder on our long volatility logic here and here).
Source; charts by Bloomberg
