Scott Redler’s Dog Bytes: Earnings Action in F.A.A.N.G. Stocks


The SPX hit a low of 4222 and held 4287 Friday, giving a relief rally. It feels like this can continue for a bit. But I think things would be hard if it sees the 4495-4505 area, with 4530-4569 above. If we get an oversold bounce it might form a right shoulder to complete a macro head & shoulders pattern, but we'll measure it daily.

AAPL responded well to earnings on Friday. Can money hide here and buy dips? We shall see. I’m long and will see if it can hold the $167 area to start a better active sequence. Below that, it gets sloppy.

NFLX: Reed Hastings buying stock (after Ackman last week) has it trading better. It’s hard to chase. But if it holds the $295 area, it can test the earnings gap pivot up near $408.

FB has earnings on Wednesday. I'm not doing an options strategy but it will be interesting. See if it holds today and goes green for a trade. $293 is the low.

AMZN broke $3300 and hit a low of $2709. There is a defined lower pivot ahead of earnings Thursday. There's room to $3125-$3150 before the report.

GOOGL has earnings on Tuesday. It will be important for sentiment. I'm not playing it. Big resistance is at $2786ish.

Positions Disclosure as of 1/31/2022 at 9:01 a.m. ET