FANG stocks have had a huge move until this week. Facebook (FB) was down huge after guidance on the conference call. Netflix (NFLX) was down when subscriber growth expectations slowed. Google (GOOGL) and Amazon (AMZN) put up good results.
The stock market looked to FANG stocks for leadership which can always give added confidence in trading in general. It can give a needed support to stocks in general when your go-to names are making you money.
The chinks found in Facebook and Netflix armor can decay some of that confidence.
While Google's quarter was strong this time last quarter was mired in question when leverage didn't come through. Google will also have to face GDPR issues just like Facebook.
It's not clear if these will be the leaders.
Amazon is hitting stride on the profit side and probably is the cleanest story of the FANG stocks.
So the stock market's tech dependence could turn to Apple that reports earnings next week as probably the most important driver to the stock market and tech stocks.
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