5 FAB STOCKS

[TREND1]

QQQ remains one of the strongest major index ETFs because four of the five top stocks hit 52-week highs this month. Alphabet (GOOGL) is the outlier here because it was the only one that did NOT. The chart below shows Facebook, Alphabet, Apple, Amazon and Microsoft over the last six months. The green zones mark support zones from the March lows. GOOGL is the only one to break this zone. The stock bounced with a small wedge and then broke wedge support with a decline the last four days. I am not interested in shorting GOOGL or even turning that bearish because the long-term trend is up. The uptrends slowed for Facebook, Apple and Microsoft, but uptrends are better than downtrends. I would not become concerned unless than break their March lows. Amazon is the clear lower after a breakout and surge in late March. These stocks report earnings in late April and early May.