PAY ATTENTION TO THE OMINOUS PATTERN IN BIG TECH STOCKS $FB $AMZN $NFLX $GOOG $GOOGL $QQQ $PSQ $QLD $QID $NVDA $MSFT $BABA $TSLA $AMAT $LRCX $WDC
Popular “FAANG” stocks suffered a blood bath Friday.
FAANG stocks are Facebook FB, Amazon AMZN, Apple AAPL, Netflix NFLX, and Google GOOG, GOOGL. They’re known as a group because of their persistent outperformance as large-cap U.S. technology stocks.
The technology bellwether Nasdaq Composite Index COMP, slid 1.8% on Friday, and the S&P 500 technology index plunged 2.7%.
Prudent investors ought to pay attention to the ominous pattern that is being traced now. Let us start with an annotated chart of Nasdaq 100 ETF QQQ. Big tech stocks have a heavy weighting in this exchange traded fund.
Please click here to see the annotated chart.… Please click here or the title below to read more.
June 10, 2017