Here’s a quick look at the market-leading FAAMG stocks on the daily time frames. I’ll be on watch for one or more follow-through (confirming) red candles to today’s bearish engulfing candle as well as a solid break below this trendline for a sell signal on MSFT while any marginal new high soon will be a divergent high.
MSFT daily May 26th
AAPL also has negative divergence on the daily time frame for the first time since the Feb 12th DH which was followed by a 35% plunge (and also broke & closed just below the 60-minute uptrend line covered in today’s video).
AAPL daily May 26th
Following the recent divergent high & bearish engulfing candlestick on May 21st (plus 2 follow-up confirming red candles), AMZN will trigger a sell signal on a break below this trendline with potential targets shown at the arrow breaks. Unofficial trade idea (setup) for now as I’d like to see some sell signal in the broad market & other FAAMGs before shorting this darling of every fund manager & retail investor.
AMZN daily May 26th
This is the first time that GOOGL (Alphabet Inc) has put in a divergent high on the daily time frame since the Feb 19th divergent high as it tests the bottom of the technically significant Feb 24th gap while pinching up within a rising wedge pattern.
GOOGL daily May 26th
An impulsive reversal off the top of the price channel on FB today with the stock at the most overbought reading in years.
FB daily May 26th