They’re baaaack! FANG (FB, AMZN, NFLX, GOOGL) had a big day today, and you can thank Netflix for stoking the fire. The company announced a price increase for its U.S. services. It took the FANG complex up. As a result, the stock market managed to post a solid day of gains, with the S&P 500 rising 1% to 2,610. The NASDAQ had a solid day rising nearly 1.7% to 7,022.

Brexit, What About It?

How vital is FANG to the market? Very. How do we know? Today, of course, was the Brexit vote and it was a historical loss for PM May. She lost by 230 votes - Brexit, one of the most massive landslides in UK history! What happens next? I have no idea.

Stocks dipped briefly, but then snapped right back. A month ago, a Brexit vote went south, and the market tanked. Has the mindset of investors changed? Absolutely.

S&P 500 (SPY)

The S&P 500 (SPY) now appears to be on pace to rise to 2,630, a level we have been patiently been waiting for over the past couple of weeks. Additionally, the index appears to be crossing above the downtrend which formed at the beginning of October.

NASDAQ (IXIC)

The NASDAQ also broke one of its downtrends, with one more to go. A jump above 7,026 and the index can go on to rise to around 7,125.

Netflix (NFLX)

The big news came from Netflix when the company said it would raise prices in the US. The stock jumped about 6.5%. I can’t imagine that Netflix would raise prices just two days ahead of earnings if Subscriber growth in the fourth quarter were weak.  Trends have been hot! The next level of resistance comes around $380.

The company did the same thing in October 2017, when company raised prices. Then they reported better than expected subscriber growth a few days later.

If it happens, that means that Netflix would have added nearly 10 million subscribers in the fourth quarter. Crazy.

I have often argued that Netflix could raise the price of the service to $25 a month, and people would gladly pay. Go to the movie it cost $15.50 where I live, to see one movie, one time. On Netflix, hate the movie? No problem find something new. Go to the theatre to see the film, hate it, leave unhappy. Oh, and you have spent about $35 for two people to go.

Go with your kids, and it comes in closer to $100 when you factor in popcorn and soft drinks. Plus if you are lucky perhaps the kids will sit through the movie.

Netflix has become ingrained in my life. It is my first option to find something to watch. It is my go to at the gym.

My dad got Netflix about three months ago, and now he will call with a sense of urgency when Netflix isn’t working for him. Seriously.

My 4 and 8-year-old daughters are Netflix masters. It is for all age groups.

Netflix has become synonymous with streaming media content.

Amazon (AMZN)

Amazon appears to be breaking out, after forming what seems to be a flag. A rise above $1,690 sends the stock on towards $1,770.

Alphabet (GOOGL)

Alphabet is also nearing a big break out too. The downtrend is within reach, and should it rise above $1,090 the stock is likely going higher towards $1,170.

Facebook (FB)

Facebook is also nearing a breakout and could be on its way to $158. Read my latest free article – Facebook: When Bears Turn To Bulls

JP Morgan (JPM)

JP Morgan (JPM) managed to put together a solid day rising by nearly 1%. But don’t get excited. Look at where this stock failed. Right at resistance around $102.60.Ouch!

Citigroup (C)

Citigroup (C) got right to our target of around $61, reaching the downtrend. The RSI is overbought now, and I expect a bit of a pullback over the coming days.

Acadia (ACAD)

Acadia (ACAD) popped above $21 again, and if it can hold $21... I still think it will go to $24. Nothing new here.