Each week in NFTRH we review the FANGs, aka FB, AMZN, NFLX and GOOGL, the former momentum darlings. We also have a chart of the MICA, which are MSFT, INTC, CSCO and AAPL representing the more staid end of the big tech spectrum.
For reference, here is the FANG. Everybody’s in some form of corrective consolidation to fix the momo.
Here is the MICA chart. As you can see, the ‘I’ is still ambling along in a Cup’s Handle.
Here’s the daily chart of INTC dropping to the SMA 50. I think it may have been beaten enough on the recent North Korea jitters and whatever else has caused the market to test support.
I mean, that darn Cup targets around 44. I have a bearish market view out after August, but think there could be a pop in the interim after all these jitters. Anyway, giving it a try with limited tolerance (as with most things now).
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