Warning: the FANGs Are Breaking Down

Phoenix Capital Research's picture




 

The FANGs are beginning to break down.

 

FANG is an acronym that stands for Facebook, Amazon, Netflix, Google.

 

These are four of the top performing stocks of 2015. Netflix was the top stock for the S&P 500 returning 134% in 2015. Amazon was #2, returning 118%.  Google returned 44% and Facebook returned 34%.

 

In very simple terms, these are the big market leaders. And now all of them are beginning to break down.

 

Facebook (FB) is testing critical support. Below this the long-term bull market trendline at sub-100.

 

 

 

Amazon (AMZN) has just taken out support.  We’re likely to test to the bull market trendline running back to early 2015.

 

 

Netflix (NFLX) has broken its bull market trendline and is coming up against key support.

 

 

And finally Google (GOOG) is testing key support. Below this is nothing until 700.

 

 

All four of these are sporting ugly charts.  Keep an eye on them as former market leaders (and hedge fund darlings) they have critical importance for gauging the general market’s momentum.

 

Speaking of which, I’ll leave you with this long-term chart of the S&P 500.

 

 

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To pick up yours, swing by:

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Best Regards

 

Graham Summers

Chief Market Strategist

Phoenix Capital Research

 

 

 

 

 

 

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Thu, 01/07/2016 - 10:54 | 7011048 Grandad Grumps
Grandad Grumps's picture

Sorry, not seeing it. The FANGS still appear to be under control. A breakdown happens when control is lost.

Thu, 01/07/2016 - 10:08 | 7010759 GRDguy
GRDguy's picture

FANGs of The Great Red Dragon.  

Like a giant python, first it slimes its victim (with money), then it devours its victim. 

Thu, 01/07/2016 - 08:51 | 7010279 NoPension
NoPension's picture

These bastions of the modern economy.

Rockefeller, Carnegie and Ford are spinning in their graves.

Can't feed you, house you, transport you, or keep you warm. What a joke.

Thu, 01/07/2016 - 08:27 | 7010180 gmak
gmak's picture

Nah. Can't be.  Some CEO just has to say "We're Worldwide" and the stock pops 10%. Still a momo bubble.

Thu, 01/07/2016 - 07:41 | 7009950 buzzsaw99
buzzsaw99's picture

2% off the ath. omg oh noes oh noes

Wed, 01/06/2016 - 12:53 | 7005541 Jim in MN
Jim in MN's picture

GE is still the better indicator for the overall S&P.  Doing just fine.  You want to play games--guess when GE tanks.  That is the real signal.

Wed, 01/06/2016 - 12:14 | 7005278 Black Warrior W...
Black Warrior Waterdog's picture

It's all bullshit.

Wed, 01/06/2016 - 11:55 | 7005170 Squid Viscous
Squid Viscous's picture

thanks for the look, bought them all pre market, now off to do some ice fishing

Wed, 01/06/2016 - 11:28 | 7004995 Iam_Silverman
Iam_Silverman's picture

As they always say on CNBS, Well, they are well off of their lows!

Wed, 01/06/2016 - 08:49 | 7004094 BetaGap
BetaGap's picture

OMG! Please! Not FANG!

 

LOL

Wed, 01/06/2016 - 13:20 | 7005654 KnuckleDragger-X
KnuckleDragger-X's picture

Google is the only one really making money, but they rely on advertisers who are really starting to cut their budgets. Tech of any kind is going to eat a shit sandwich this year.....

Thu, 01/07/2016 - 08:44 | 7010250 mattfriend88
mattfriend88's picture

Yes, Google makes money, but what good does it do the stock holders?  Cash dividends are so old fashioned.  

 

Thu, 01/07/2016 - 08:45 | 7010248 mattfriend88
mattfriend88's picture

.

Wed, 01/06/2016 - 13:03 | 7005589 Fish Gone Bad
Fish Gone Bad's picture

I always enjoy how people draw their lines on charts.  The take away here is: Charts work when they work, they don't when they don't.

Wed, 01/06/2016 - 12:43 | 7005471 thesonandheir
thesonandheir's picture

Fangs for the memories!

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