FAANG-A-DANG A DING DONG

In order of appearance: Facebook is a BEAR TRIANGLE, projecting a drop to 101, or roughly about 80 points below this. or 40%. Google has a BEARISH objective of 1911, which is 200 points lower or 10%. AMZN has met it’s BEARISH objective and would need to move to 2210 or about 80 points higher to give a buy signal. AAPL has a BEARISH objective of 113, and 30 points lower or 30%. Just dealing with this for a moment, can Facebook blowup? Their two far ranging projects, LIBRA and the METAVERSE, are too far off on the horizon, (Crypto collapsing) and their ancillaries, like Instagram, companies like that, see, to be taking the most heat.

Is GOOG not that bad? I like their product, I understand them, they are the internet encyclopedia. Just ask the question and Google answers. Sure maybe your information is processed for consumption at the middle school level, but you have it, and you have a lot of it. Perfect for dumbed-down America. Don’t Confuse Me with the facts will only get you so far in this world. On the flip side the magic is draining away.

AMZN is my lead dog on the stock market sled to an icy hell. The BEARISH objective has been met. There’s a lot of volatility. This one needs to shake out.

AAPL might have been the most bulletproof and the BEARISH objective is 20% lower and that’s what the analysts are saying about this market. You need to love this company but love it at a lower price. Now for the finale drum roll please.

This one has a positive setup. And why not, look how far it has fallen. So I hear the gears going around in your head. This one is a buy ( at 192) the rest of them are either sell or neutral based solely on valuation. Is that a fair way to go about this? NO I HATE AMZN, and I see blood in the streets for Facebook, and maybe GOOG is boring but solid, and with AI and the METAVERSE how do these individuals stack up against each other? For a read on the market you might expect selling pressure in AMZN and GOOG and NFLX to lighten up a little.

Point and Figure is a advertised as a “noise free” charting system albeit in a pretty noisy market the signals can get mixed it was never the system for calling tops or bottoms. Concerning the selling in the indexes one should keep it in mind that perhaps the selling hasn’t really begun. In that case these are all going to go lower according to the market weight and these arbitrary distinctions may not hold much water.

There is still time to look for some money flow divergences in these and perhaps that will be the deciding factor..

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