[F.A.N.G.] An Elliott Wave Look At FB AMZN NFLX GOOGL 12.21.15

FB (Facebook) – 618 support for FB is at 104, and if it holds and breaks through 618 resistance at 106, it could rally in a Wave 3 to as high as 114-115 baed on a 1-2-3 move off the lows..a NASDAQ bottom here would help create this move.

AMZN (Amazon) – 618 support for AMZN is far away at 657, but if it can hold that level and break 675, it would setup a 1-2-3 move to as high as 735-745 short term..that would be 1-2-3 up like FB.

NFLX (Netflix) – Trapped in a big zigzag..if it breaks through 115 it may drop in an A = C to as low as 105-107..it’s really close to doing it now, so NASDAQ needs to bottom here.

GOOGL (Google) – 618 support for GOOGL sits at 755..if it can hold that level and break 772, it would setup a W3 to as high as 815-820 short term..it’s a distance away so this scenario combined with as NASDAQ bottom could end up pushing it to that level.

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