Uh-oh. A couple of FAANG heavyweights rolled down hard Tuesday after failing to reach their respective Hidden Pivot targets. Apple shares had appeared bound for at least 190.33 when they reversed from 188.99 mid-day along with the broad averages. AMZN was well into a weeks-long, 220-point climb to a 1842 target when it turned tail and dove from 1784. Both stocks could find traction and resume their ascent before the week ends, and that is what I would ordinarily expect. However, because the E-Mini S&Ps reversed sharply precisely from a longstanding rally target at 2858.75, odds are higher that today’s top could prove to be an important one. We should know soon — probably by week’s end — but it is hardly encouraging that TSLA and FB were relapsing and seemingly primed to fall.
Two FAANG Stocks to Watch If Weakness Snowballs
- March 20, 2019, 12:51 pm
DOW TRANS YEARLY Bearish Engulf and ‘Key Yearly Reversal Bar’ starts Depression Era 12272018
Depression Era ‘No Travel, Plane,Ships,Rail,Car.
Moves toward BDI another crushing all time low well pass the 2016 low point.
This action, as FEX moving lower by 45% and UPS moving -34% over the last few months have gone ‘completely unnoticed’.
Have a great day Rick.