DZ

Sunday, January 12, 2020

FANG stocks continue to soar lifting the Nasdaq and the S&P-500 higher. Many others are moving up, but not with the power we see in leading stocks like Apple, Tesla, and Shopify. We are getting close to that time of year, specifically late January until mid-February when stocks fade hard on earnings news and then pick up again as we start to move into March. Any break of these rising trend lines in the charts below will trigger the selling so pay attention to these rising channels. Watch for a break in one or two of them that could come in a few weeks.

Let’s see a few leading indexes with the Nasdaq and the S&P-500 (SPX) still in their rising channels for now.

TBA = Technical Buy Area

Now on to some stocks that know how to move.

Now on to a Chinese stock that snapped back strong after plunging down to its 21-day line in purple before rocketing back up for a secondary offering.

I hope to see you in the chat room Monday and back here Monday night.