4/24/20 WEEKEND Update: FAANGs

FAANGs Coverage for the Week Ahead

FB: Chart with Detailed Levels

Market Structure: Bearish

Momentum: Bullish (spike to 100.00 Friday so terminated up)

Internals: Positive (look toppy)

Block Volume: Positive

GEX: Positive

FB Summary: Earnings coming up. Got stopped at resistance on Friday. MSL at 202.05. Will it follow the same path as NFLX into earnings and then fail? Or a different outcome? Been heavily bid the last 5 days into earnings. Pump-n-dump candidate post earnings until it isn't.

AAPL: Chart with Detailed Levels

Market Structure: Bearish

Momentum: Neutral (bearish x-over not confirmed)

Internals: Positive (over zero but dropping RAPIDLY)

Block Volume: Neutral

GEX: Positive

AAPL Summary: AAPL stopped right at the distribution box on Friday. Internals are collapsing. No volume the last 10 days. 292.67 and 300.52 are resistance. No support now until 242.65 if this fails. GEX positive. I have no edge here. If through 300.52 then 312.82 will be hit quick. Internals look really ugly here...real price advancement needs to fix those Mon/Tues.

AMZN: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Bullish (but exhausted)

Internals: Bullish (but seemed topped out)

Block Volume: Positive with lots of chasing

GEX: Neutral

AMZN Summary: AMZN is in the box. Seems like 2500.00 is the right number for the algos (they like the round numbers). Earnings soon. I am waiting/watching this week here. MSL is positive as long as we are over 1681.07 from my perspective so and 1913.42 is key level to watch if we get some bear raid/pull back action in May.

NFLX: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Bearish

Internals: Positive (but declining each day now)

Block Volume: Neutral

GEX: Negative

NFLX Summary: NFLX was first FAANG out the gate in earnings AND...has been weak since then. This week seems pretty important as it to determine if the action since earnings has been consolidation or a shift in sentiment. 460.85 upside is key and 418.08 downside key. Close above 460 or below 418 should ignite major moves.

GOOG: Chart with Detailed Levels

Market Structure: Bearish

Momentum: Bullish

Internals: Positive (above the zero line now but dropping hard like Apple)

Block Volume: Neutral

GEX: Neutral

GOOG Summary: Announced they are on hiring freeze late in the week. Earnings coming up soon. 1500.00 level has upside FVG break away left behind and the MSL is 1366.30 level. Internals look bad and momentum is exhausted and block volume is neutral. Needs to get real volume and up and through 1366.60 to turn up. Have to watch this week as it is still kind of in no man's land...


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