5/1/20 WEEKEND Update: FAANGMs

FAANGMs Coverage for the Week Ahead

FB: Chart with Detailed Levels

Market Structure: Bearish

Momentum: Bullish

Internals: Positive (look toppy)

Block Volume: Positive

GEX: Positive

FB Summary: Earnings spike as expected. Filled the upper FVG resistance level above the MSL and then lost the MSL on Friday. Flip point for GEX appears to be around 190 which coincides with major support. I expect weakness this week and for that level to be tested. We will see what happens there for more intermediate term.

AAPL: Chart with Detailed Levels

Market Structure: Bearish

Momentum: Bullish

Internals: Positive

Block Volume: Negative

GEX: Positive


AAPL Summary: AAPL earnings was sold and Friday had a very ugly rejection candle off the exact MSL level. GEX flip is 280 level and that is the breach of the trend channel that it has bounced inside since end of March. Below that the bull bear pivot is next support at 260. Next week is pretty important for any bullish continuation if attempted.

AMZN: Chart with Detailed Levels

Market Structure: Neutral

Momentum: Bearish

Internals: Bullish (but seemed topped out)

Block Volume: Negative

GEX: Neutral/Negative


AMZN Summary: AMZN is now in between two major zones of 1681 on the low side and 2531 on the high side. The bull bear pivot is 1915 area. I expect this to be tested in the coming week or two and then reaction could give more clues to intermediate term. Ugly day on Friday and that is perfect distribution pattern...look at that price action since early April in that box...exact bag holding setup. Those buyers up there may get torched.


NFLX: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Bearish/Neutral

Internals: Positive (but declining each day now)

Block Volume: Negative

GEX: Positive


NFLX Summary: NFLX was the first to report earnings and has sold out of the distribution box. Having said that seems to be stabilizing a little so this one is worth watching this week to see if there will be any bounce there...if not then watch where this stops to the downside because it can/may be used for clues about where the others might find first level of support.

GOOG: Chart with Detailed Levels

Market Structure: Bearish

Momentum: Bullish

Internals: Positive

Block Volume: Neutral

GEX: Neutral


GOOG Summary: Earnings has passed and this is now on it's own. Failure at the MSL 3x this week is notable. Price action is still in the upper end of the range. GEX flip point is in the 1270-1280 area. Have to see how price acts this week...

MSFT: Chart with Detailed Levels


Market Structure: Bearish

Momentum: Bullish

Internals: Positive

Block Volume: Positive

GEX: Neutral


MSFT Summary: Earnings now done and price has failed twice at the MSL which is quite notable. 171 area is important and price could easily fall to 155 level quickly if 171 goes. This looks bearish to me and if it loses 155 level could easily see 137 level swiftly. Like all these charts, the back and forth (if there is to be any) will be be between the MSL and the EMAs at the top end of the range. IF those are to go, then the large gaps in between the FVGs act like magnets to the downside just like they did to the upside in this last move.

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