F A A N G update 12/7

FB: Looks like this stock is stair stepping down through several more 4th and 5th waves. Ideally it is now in nano-v of micro-3 of minute-iii of minor-3. Thus micro-4, 5, minute-iv, v and minor- 4, 5 are then still left before a larger counter trend rally should happen. Note that as long as price remains below the grey downtrend line and the 50d SMA, this is my preferred view. Price will then likely not find support until the 50% of the ATL to ATH has been reached at $120-115ish.  So watch that trendline and 50d SMA, because if price starts to move above those before the target zone is reached, then it means this move down is coming to and end.FB daily


AAPL: Counts and looks also best with another 4th and 5th wave needed to complete the bigger a/i move down. Price should now be minute-v of minor-3. The 50 to 62% retrace of the entire 2016-2018 bull run should provide support for a/i, from which b/i can then rally to possible the 200d SMA for a classic retest from below, only to fail and have c/iii target the 76.40% retrace at mid-120s.

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AMZN: reached the ideal bounce/b-wave target zone earlier this week and should now be heading down to $1150s eventually.


NFLX: I see no reason to change my preferred view in that primary IV will target around $220 somewhere early 2019. That’s all there is to it.

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