FXCM FAANG Basket Moves Into Bullish Stack On the Daily

The above chart show's the daily time frame of FXCM's FAANG Basket. We are using a triple EMA system to assess trend. The short-term green EMA > intermediate orange EMA and the intermediate orange EMA> the slow red EMA (blue rectangle ). We note that NFLX reported last week and that the rest of the FAANGs ( FB , AAPL , AMZN , GOOG ) will report this week. Following their respective releases we will assess the basket's EMAs and their angle and separation. If these develop, it will be regarded as bullish , suggesting that a possible bullish momentum push may be underway.

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