The Nasdaq is suffering from weakness in the FANG stocks. Netflix has been down hard for two days. Google was hit with a 5 billion euro fine in Europe. Amazon said shoppers purchased more than 100 million products on Prime Day but investors sold the news. Facebook was down slightly in sympathy with Google and on worried they could have their own problems in Europe.
Despite the various issues the Nasdaq was flat rather than weak. The Russell gained slightly and the big caps continued to melt up. Overall it was still a decent day in the market.
I am not adding a new position today. We had a server problem all day that was preventing some subscribers from accessing the website and was not corrected until after midnight ET. That has thrown the newsletter very late tonight. I will catch up this weekend with two positions.
New positions are only added on Wednesday and Saturday except in special circumstances.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays