sumastardon

FDN: Final stage of medium term internet ascent this week...

Long
AMEX:FDN   First Trust DJ Internet Index Fund
FDN: First Trust Dow Jones Internet Index Fund - in 4th and likely final phase of the rally which began in early 2016. It can go on another 2% from here but then should hit problems. Use this index fund as confirmation next week - looking across the FAANGS for signs of completion. This looks like the final vertical ascent. Don't get sucked in now. Rather, get ready to bail if a swing trader.
Comment: Mistake on levels given here...a fall below 93 should see this index fall to 88.7 in first instance (not 90 as stated), so down nearer 5% in first phase of weakness on any fall below 93.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.