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Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Creek

Creek

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Monday, November 04, 2019

Will FAANGs Bite Back?

The following daily chart of FNGU shows that price has broken above and retested a downtrend line.

FNGU is an exchange traded note that tracks 3x the daily price movements of an index of US-listed technology and consumer discretionary companies...the index is highly concentrated and equally weighted.

The next major resistance level is around 47.34 (61.8% Fibonacci Retracement level).


FNGU is comprised of the tech stocks shown on the following daily charts.

Keep an eye on AMZN, NFLX, BABA, BIDU, and TWTR to see if they can claw their way back to an uptrend...especially TWTR, which can't afford to turn down advertising dollars from political ads pertaining to the 2020 election, as was recently decided by its CEO.