The main view of this trade idea is on the 4-Hour Chart. The index FANG (FNG1!) has been in a rangebound price movement after hitting resistance around the 7400 price level in mid February 2021. FANG held support at 6050 and made a second attempt to break above 7400 in mid July. After that failure the index quickly found some support around 6800...
The Potential for the FANGs to have a rather large
disruption is advancing.
El Cliffo awaits.
AAPL is wandering in the Gamma Squeeze desert trying
desperately to regain 150.
We remain unfilled on our ES 4414.75s... hopefully into
10:30AMEST we receive our Fills.
We pressed ES form 5 to 10, with a 30 handle target below.
The NYSE FANG+ Index, which constitutes: Tesla, Nvidia, Alibaba, Baidu, Twitter, Facebook, Apple, Amazon, Netflix and Alphabet, have in my work, topped. In particular, those of which are US-born names. Some may get closer to their current ATHs than others, and others may consolidate in a B wave more than others, but overall as a general trend, many...
This is the like the most powerful index on earth! From end of March 2020 to first week in Sept 2020, FANGS appreciated ~140%. If a trader had the right bottle, $1 could have become $34,000! This is just the mathematics. (Note carefully - this is an educational post, not a trade. I have not traded this nor do I make any claims. Trading in *derivatives in this...
I continue to expect another significant wave down in world equities as per my consistency across my ideas. While it may not happen all at once, the main trend is one more wave down to at-least test the gaps across virtually every index/ETF/stock from March 24th. While the level on March 24th should bring about some support when we close the gap,...
"e" wave have started/will start and this comes just when Hawk Powell is about to speak later today.
Whenever Powell speaks after FOMC, market tanks and that's the opportunity for dip buyers.
Buy the dip
The support and resistance levels coincide in an uncanny manner with the Fibonacci retracements. Once again, the price was rejected off of what looks like a mini double top and has already (almost) made it to the support level. We may see a bounce to form what appears to be a triple top or a brief overshoot as the negative divergences on the PPO and RSI get...
FANG+ creating lower highs and lower lows. S&P can make new highs while FANG+ creates another lower high. Another down leg will certainly drag down the overall market. Plenty of overhead resistance in the green box, could get there coming off such daily oversold conditions.
FANG+ = (AAPL, AMZN, GOOGL, FB, BABA, BIDU, NVDA, TWTR, NFLX, TSLA)