AMEX:FDN   FIRST TRUST EXCHANGE TRADED FUND DOW JONES INTERNET INDEX FD
Friday put in value at the top of the range with a text book 3 day bottoming reversal formation. This sell off came right down to the expected 100% down side move from the consolidation break. There is some reason to think the internet stocks will stabilize at least into NFLX earnings this week. Internet is still holding the intermediate trends well. The big issue is the short term trend turned bearish . There are signs out there Amzn and Googl found a bottom. FB bounced off my expected down side tgt . AAPL is still in a very strong intermediate bull cycle but it is near the top of it's range. The way my other charts are setting up looking for continued weakness into November, careful pressing your longs short term. I am solidly bearish NFLX for this weeks earnings . So, I am thinking the bottoming pattern we see in FDN past 3 days is risky. This whole sector needs a break as money rolls out of growth and into value.
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