This is an equally weighted representation of the FANG+ Complex. Needless to say an important group for the indexes. The good: The group is above support level and the point of control. The bad, the group is below the 25 and 50 week SMA and those moving averages are starting to curl downwards. Bulls would like to see the group retake the moving averages especially the 50 week as it looks to be resistance the last two weeks. The bears would like to see a break of support followed by a break in the point of control. As long as support holds and the 50 week offers resistance then the indexes are most likely to continue to chop then make a decisive break in either direction.
Thoughts?
Thoughts?
