Home ยป The FANG Stocks May Be About To Surge, While The Bank Stocks Fall

The FANG Stocks May Be Back and While The Banks Stocks Fall

The FANG Stocks May Be About To Surge, While The Bank Stocks Fall

Subscribe to The Free Market Chronicle and join the 2,721 subscribers getting it for FREE!

MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF NFLX, GOOGL

[widget id=”text-19″]

S&P 500 (SPX)

Stocks gave back a midday surge after the dovish sounding (at leastย to me) Fed Minutes. Although I admit, I didn’t have time to read the minutes,ย ย just from what I heard on TV and what I have read in recaps. The S&P 500 did fail at resistance around 2,750 today, finishing the day lower at by 25bps. Am I concerned? Kinda/Sorta. Overall the RSI is rising and trending higher, and I think that means the market continues to trend higher.

SPX

Of course, the significant element of risk is the trade discussions this weekend between Trump and Xi. What happens is any guess.

Russell 2000 (RUT)

The Russell 2000ย  also managed to fail at resistance around 1,533.ย  Not a good sign that the two indexes failed at resistance.

russell 2000

Biotech (XBI)

The Biotech ETF (XBI) managed to stay in breakout territory above the downtrend.

xbi

Premium Content:ย eBay Traders Bet Stock Will Rise

Facebook (FB)

The good news for Facebook, it got to $140. The bad news for Facebook, the stock failed at resistance which was at $140.ย  It mayย go either way from here; I’m not going to pretend as if I know. Resistance is around $145, at the down trend. Support is at $133. I’m not even guessing. Sorry.

But if Facebook can break $140, then it may serve as a great sign that FANG may be back! You will see.

facecbook, fb

Amazon (AMZN)

Amazon has cleared its downtrend, and I think that means the stock is on its way to $1760.

aamzon, amzn

Netflix (NFLX)

Netflix did break out rising aboveย $285, and it is likely on its way to $300.

nflx

Alphabet (GOOGL)

Alphabet also cleared a downtrend, and I think this one as room to rise to $1,130.

googl

Boeing (BA)

Boeing has surged lately. Could it rise to $360? Sure. But the chart overall looks terrible, and that RSI is trending the wrong way.

ba

Banks

The one group that doesn’t look good? The Banks!ย  The dovish Fed surely isn’t going to help the long-end of the yield curve rise. That means the yield curve flattens and the bank stocksย get squished.

Citigroup failed at resistance today.

citigroup, c

JPMorgan continues to trend lower.

jpm

Morgan Stanley – theย same.

morgan stanley

And well, Goldman Sachs. UGH!

goldman sachs

I’d hate to say it, but they may still have even further toย fall.

Night!

-Mike

[widget id=”black-studio-tinymce-7″]

Photo Credit Via Flickr

Mott Capital Management, LLCย is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.ย Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of futureย results

SP500, RUSSELL, FACEBOOK, AMAZON, NETFLIX, GOOGLE, FANG, BANKS