Scott Redler’s Dog Bytes: Are F.A.A.N.G. Stocks Worth It?


SPX did a false breakout around the 4730-4740 area and now it looks below 4660 with the futures -30. Powell gets confirmed Tuesday, CPI is Wednesday, and banks start reporting earnings on Friday. Most active traders are in a Tactical Approach because it's hard to find special names to sit in as swing longs.

F.A.N.G. stocks have very specific tactical action.

AAPL lost momentum as it broke the $179 pivot to get me out. It looks below $171. See if it stays below that, or reclaims it to relieve pressure. $167.45 is key support below.

MSFT was sold to start 2022 as it broke the 8/21 day. It has been for sale since. $310.09 is Friday's low. See if it holds or stays below that. The next spot is $305.50ish.

FB is trying to re-build, but it's still very tricky. It needs to hold the $322 area. See if it stays below or reclaims Friday's low of $328.88.

AMZN’s false move around $3414 in AMZN led to more weakness and it hit a low of $3238. It’s a tough name as it works lower. $3175 is the next support spot, but it looks like $2881 can happen over time if tech remains for sale. It’s hard to press short or buy. $3238 is key - does it stay below or reclaim that?

GOOGL lost special status as it broke the $2875 pivot area to see $2715 Friday. Watch that pivot today, but looks like the 200 day down near $2600 is in the cards.

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