Bashful FANGs

Whether or not you agree with my view that this remains a long-in-the-tooth bear market rally in equities, destined to plunge to new lows, is one thing. But it is still instructive to note relative weakness where we see it, especially among the mega cap tech monsters. 

Specifically, of the "FANG" names, two of the worst performers in 2023 compared to AAPL TSLA NFLX NVDA etc. have been both AMZN and GOOGL, respectively below on their weekly charts. 

With options exportation for the month today followed by a three-day weekend, bears have a rather obvious opening to attack. Should they succeed, I would expect both AMZN GOOGL to hit new bear market lows before the other FANG-type of names. Thus, they are short ideas. 

Overall, if this is the end of the rally and the bear market is alive then the following weeks should see the velocity of the selling eventually pick up as bulls slowly but surely realize they are trapped.