US Equity Markets Plunge As ‘FANG’ Stocks Give Up 2016 Gains FANG stocks, led by Google, have tumbled by the most in two months today and given up any gains in 2016. This is weighing on the broad hope-strewn stock market as it erases all the post-Jo-Cox-death gains from yesterday… FANGs losing it… As […]
Sideways correction – potential reversal. Breaking of technicals offers opportunities for moves to the next technical. Currently in a positive trend with potentially more to go to reach resistances: previous highs and wedge pattern resistance from the long term weekly are technicals to watch.
Potential double top can be seen on the weekly. daily shows the 2nd top potentially rounded. Sideways move between blue s/r zones, pattern suggests fall to lower zone. Dashed orange offers an aggressive (read more RISK) opportunity; a break through the lower green s/r will likely see a move to the next lower blue s/r, […]
Consolidation between two blue s/r zones can be seen – watching for reversal. Breaking down through supports (s/r zone & channels) could see a significant drop to the next blue s/r zone, down around $42.00. Several weekly Fib levels can be seen on the way down and these should be watched for support.
Clear sideways movement can be seen highlighted by two bright green s/r zones. Market is falling from upper s/r zone, potential for a move to the lower. Green s/r zones below the market offer technical considerations if broken – mindful of other s/r trend lines that can be seen (channel) and expect market reactions. […]
