On Monday 7/8/24, in TPA’s World Snapshot, Any Sustained Market Downturn Should Mean Significant FANG Underperformance, we predicted the underperformance of the NYSE FANG index. (CLICK BELOW FOR 7/8/24 REPORT)
That weakness has unfolded in rapid fashion.
The first chart below shows the relative performance of FANG and the S&P500 2024 YTD, FANG +31%, S&P500 +17%. Chart 2 shows the relative performance over the past 5 days; FANG is down a whopping 6.5% and the S&P500 is down a modest 0.81%.
TPA has included the table of the Top 10 FANG stocks below and the 6-month charts of the top 5 FANG stocks – GOOGL, AVGO, TSLA, AMZN, and MSFT.
Jeff Marcus founded Turning Point Analytics (TPA) in 2009 after 25 years on trading desks and 13 years as a head trader to provide strategic and technical research to institutional clients. Turning Point Analytics (TPA) provides a unique strategy that works as an overlay to clients’ good fundamental analysis. After 10 years of serving only large institutions, TPA now offers its research services to mid and small managers, RIA’s, and wealthy sophisticated individuals looking for a way to increase their returns and outperform their peers.
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