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

FB: Despite today’s big drop in the indices FB is raging higher…highest 1.618 target on the 6 month chart is as high as 145-150 so there’s a long way to go here.

AMZN: A = C or downward 3 would break 540 to the downside and setup a move to the low 500’s at worst..the gap down recently on earnings is a real nasty momentum breaker and downside momentum is pretty much the clear path.

NFLX: Could be 5 waves down in NFLX complete, so the best case scenario is a full 618 reversal..target could be as high as 110 on a 618 reversal.

GOOGL: Broke 800 with no problem on earnings..momentum on a 1.618 would be 980-1000

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