I refer to FAMTAG now. FB, AAPL, MSFT, TSLA, AMZN, GOOG.
I leave Netflix out. Love the service and shows they are pumping out, but they are not in the same boat as the others in my opinion.
I think people are still pulling for Microsoft as an alternative to Apple products.
Scott Harrison
Senatobia, MS
I refer to FAMTAG now. FB, AAPL, MSFT, TSLA, AMZN, GOOG.
I leave Netflix out. Love the service and shows they are pumping out, but they are not in the same boat as the others in my opinion.
AMZN is the one everyone is talking about - probably too much to be useful. A breakout would likely set up a big move higher. Similar to early 2020, but that first breakout back then was set back by the COVID crash, so obviously there's no guarantees. That one hurt, but what didn't get hurt back then?
It looks primed for that breakout here but nothing says it can't come back down to test the bottom of the channel again first.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
while tsla on the daily seems stretched and at the top of the flag/pennant... the weekly chart is about to explode north with a PSAR pop coming.tsla wk.jpg
AMZN getting hammered in AH missing earnings but worse, guided lower. Cloud computing was their bright spot, but that tells us nothing about the consumer & inflation.
Looks like the retest is happening tomorrow.
Whelp, that's it. Expect the whole entire market to follow. Pretty amazing when you think about it that Amazon has gone nowhere since June 2020.
Double top measured move would indicate some additional downside to around $2,700 levels.
amzn down.png
The C Fund is only down around 10% from its high and the S Fund is down around 20%. So I sure agree! For all those calling the C Fund the stock market, those big tech names holding up the big cap indexes, could really push the C Fund much lower now. That is "IF" we don't get an oversold bounce soon.
“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse L. Livermore
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Here comes FANG earnings... after the bell today.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Note, Rivian, which amazon has a large stake in, was down 44% in the 4th quarter of 2022
Date Close 9/30/2022 32.91 12/30/2022 18.43
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Microsoft isn't really a FANG stock, but rather MAGA (Microsoft, Apple, Google, Amazon), but basically...
After the first wave of earnings from big tech, Microsoft has broken out after a gap up. It is hitting some resistance there, however.
Google is up, but not very impressively being below the early April highs. The 200-day EMA did get tested, and hold, after some selling earlier today.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
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