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andre_007
Feb 26, 2023 5:33 PM

NYSE FANG+ Index: wait is better⌛ 

ICEUS:NYFANG1W
NYSE FANG+ IndexICEUS

Description

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'The NYSE FANG+ Index is a rules-based, equal-weighted equity benchmark designed to track
the performance of 10 highly-traded growth stocks of technology and tech-enabled companies in the
technology, media & communications and consumer discretionary sectors'.

Companies included in the index:
Meta, Apple, Amazon, Netflix, Microsoft, Google, Tesla, NVIDIA, Snowflake and Advanced Micro Devices.

Graphically speaking, I would expect a better definition of which way the price is going.
Looking at the Stochastic Momentum Index, I would say that opening a long position would be too risky.

Below are some possible scenarios:

Scenario 1:


Scenario 2:


Scenario 3:


Scenario 4:


Scenario 5:
FibonacciWedgeSupport and ResistanceNYFANGnysefangtechnologystocksmetaappleamazonnetflixmicrosoftgoogle
Comments
gleefulAnalyst40174
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What were your odds for Scenario 4 back then?
andre_007
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Look, I bet on it as very unlikely, due to the ultra pessimistic scenario. It seems like every week is being decisive...

Looking at the growth\value investing ratio, I'm waiting for the result of this graph:

(AMEX:IWF+AMEX:IWO)/(AMEX:IWD+AMEX:IWN)


This chart tells me whether investors\traders are allocating more capital to growth or value companies.
Now this index is at an important resistance.

Corroborating this, indexing this index against broader indices (on SPX, Nasdaq and XLQ ETFs), we also find important resistance.


Therefore I would expect a pullback for the next entry.
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