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AAPL GOOG FB AMZN Poised to Drag QQQ Lower

A break below this 60-minute uptrend line is likely to bring GOOG down towards the 689 area in the coming days to weeks.

GOOG 60 min June 1st close

GOOG 60 min June 1st close

After a feeble & so far, failed attempt to back-fill the 4/27 gap with the help of the Buffet-induced rally, AAPL appears to be ready for the next leg down.

AAPL 60 min June 1st close

AAPL 60 min June 1st close

Following another failure at the 723 area, AMZN looks poised to hit any or all of these downside targets on a break below this minor uptrend line.

AMZN 60 min June 1st close

AMZN 60 min June 1st close

FB is likely to back-fill the 4/28 gap on a break below 116.

FB 60 min June 1st close

FB 60 min June 1st close

As these stocks are among the top components of the Nasdaq 100/QQQ, should most or all of these scenarios play out, they would certainly bring the market down with them.

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Jun 2, 2016 9:30am|Categories: Equity Market Analysis|Tags: , , , , |Comments Off on AAPL GOOG FB AMZN Poised to Drag QQQ Lower