FAANG stocks are once again a crowded trade. Risk/reward favors the downside, and considering this garbage is 4%+ of the S&P 500, the sell-off after GOOGL's earnings call today will likely trap S&P bulls at the top end of the risk range. Short term price target of 1175. Cheers.
Note
That's right bulls, play dumb games, win dumb prizes.If you put the trade on today, I'd recommend leaving it on until end of August. This market is going to crater in the coming months.
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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.