Scott Redler’s Dog Bytes: Trading F.A.A.N.G in 2022

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The first level to hold is SPX 4786 then we'll see if there is strength to clear 4808. Be on alert because 2021 winners may get sold now that taxes are pushed off until 2023. And beaten down names can get a lift because tax loss selling is over. Support for the week is 4765ish. 

F.A.N.G. stocks have very specific tactical action. I’m still looking to trade them to net money.

AAPL can be a good stock for clues on tech. I'm still long from before my trip. We'll see if it can get and stay above $179.23 or of profit takers come in. $177.26 is the 8 day and pivot support from last week to adjust around.

MSFT was a strong leader last year. We'll see if the gap up holds or fades. Key active support pivot is $335.85. To get better, it needs to get and stay above $339.36.

FB gave us a move from $335 ish to $350+ and then came in pretty hard. I still have half my call spread on. I'll give it some time. We'll see if opening strength holds, or if they sell it. Watch $336.27 as key support for the day.

GOOGL was choppy last year but made a few all-time highs to help lead. It closed on the lows Friday and it is up today. We'll see how it reacts in the first 5-15-30 minutes for clues. $2897 is Friday's low to watch.

AMZN lagged for most of last year in a big tricky range with limited opportunities. I positioned into two call spreads because it might wake up. Today, it's up $18. See if new flows have power to keep it up, or if it goes red. If that happens, see how it handles the $3331 pivot low from Friday.

Positions Disclosure as of 1/3/2022 at 9:17 a.m. ET