on the following charts of the Dow 30
, S&P 500
, Nasdaq 100
and Russell 2000 Indices
represents a period of one quarter of one year
Buyers tested the waters above the highs of 2017
, but were not able to hold those gains as they received little to no support to advance any further, and even gave up most of them, by the close of Q1
, with the exception of the NDX
(which held above last year's close).
The following 1-year daily
and 2-month charts
of the SPX
, 5 FAANGs
show their price relative to their 50-day MA (red), as well as the Rate-of-change technical indicator.
For the most part, the FAANGs
have been the powerhouse of the Technology group and have kept the NDX
in positive territory for the year, so far. However, those have been weakening considerably, especially FB
I first wrote about FNGU
and FNGD here
(two recent 3x leveraged ETNs
comprised of the FAANGs + BABA, BIDU, NVDA, TSLA & TWTR
). Although they have yet to make a new all-time low (in the case of FNGU
) or high (FNGD
), their respective Rate-of-change indicators have...suggesting that we'll see further volatility, wild price swings and weakness ahead for some or all of these stocks.
Further recent comments regarding FB
can be read at this link
to my recent articles on all of them.
The following three daily charts
of the SPX:VIX
and RUT:RVX ratios
show that all of them are still trading beneath their respective major resistance levels (200
), and are still trading under the bearish influences of their respective moving average Death Cross formations, as well as "SELL" signals on their RSI, MACD and PMO technical indicators.
We'll continue to see some wild swings made in the coming weeks and volatility will remain elevated until:
- all three ratios, not only climb back above, but also hold above these resistance levels,
- all three technical indicators reverse and form new "BUY" signals, and
- the bearish Death Cross is reversed to a bullish Golden Cross.
, volatility is still very much alive. Watch the Technology sector
and these three ratios
as leading indicators as to whether or not, and to what extent, they may influence the overall equity market sentiment and direction for Q2
As well, are equities headed for a bear market
, as I mentioned here
? Time will tell. In the meantime, check out the counter-indicators to such a scenario that I mentioned in that post for further clues.