Candy Matheson | Nov 05, 2018 02:21AM ET
I last wrote about the FAANGs and FNGU and what I was monitoring going forward in my post of July 30.
Since then, we've seen a great decline in the underlying stocks, as can be seen on the following two daily charts (a 1-year and a 2-month).
Of particular note, is that:
The following year-to-date percentages gained/lost graph of the FNGU stocks show that Netflix Inc (NASDAQ:NFLX), Twitter Inc (NYSE:TWTR) and Amazon.com Inc (NASDAQ:AMZN) are still up the most, while Baidu Inc (NASDAQ:BIDU), Facebook Inc (NASDAQ:FB) and Alibaba Group Holdings Ltd (NYSE:BABA) have lost the most in this timeframe.
The following one month percentages gained/lost graph of the FNGU stocks show that Tesla Inc (NASDAQ:TSLA) and Twitter Inc (NYSE:TWTR) have gained the most, while NVIDIA Corporation (NASDAQ:NVDA) lost the most, and the others suffered considerable losses in this timeframe.
The following one week percentages gained/lost graph of the FNGU stocks show that NVDA, TWTR and TSLA have gained the most, while AAPL lost the most in this timeframe.
The following weekly chart of FNGU is showing a possible triple-bottom reversal in the making.
Both the momentum and rate-of-change indicators are well below their zero levels and, while the QuantShares US Market Neutral Momentum (NYSE:MOM) is still dropping, the ROC is attempting to stabilize.
Last week's closing price is below that of its open (52.17) when it first began trading back in January.
While the Nasdaq 100 has led the overall percentages gained year-to-date over the other U.S. major indices, it has lost the most on a one-month basis and has gained the least on a one-week basis, as shown on the following three graphs.
CONCLUSIONS
From the above observations, I'd suggest keeping an eye on the following going forward, particularly after the U.S. midterm elections on November 6:
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