FANG update 07/25

After Google’s “plunge” on earnings yesterday it is time to update the FANG stocks

AAPL: Now in intermediate-v of major-3. Reports earnings on 8/1 AH and may thus seal a similar fate as GOOGL. Caution is advised for those who’ve been long for some time now: the party never lasts for ever…

AAPL daily

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FB: Similarly to AAPL (and GOOGL; see below); price is most likely now in minor-5 of intermediate-v of major-3. It reports earnings tomorrow, 7/26 AH. May need pone more minute-iv, v, but that is not necessary.

FB daily

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GOOGL: now in intermediate-iv of major-3 of Primary-V. Since minor-4 of intermediate-iii retraced an (atypical) 50% of the prior minor-3 wave, it would be logical to assume intermediate-iv will do the same: that would bring price back to the prior 4th wave low (minor-4), which successive 4th waves often do. Hence, I’ll be looking for a low around $915 +/- 5

GOOGL daily

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NFLX: not much to add to the recent update other than that price is not able thus far to move over the ideal major-3 target zone of $183-188. At the recent ATH the intermediate-v=i relationship was met. Hence, being cautious up here is still the best word of advice IMHO.

nflx