The fabled FAANG stocks powered the US stock market higher earlier in the year.
Yet now these iconic tech stocks–Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Google (GOOGL)–seem to have lost their magic.
“We are seeing underperformance in these stocks,” according to Steve Sosnick, Chief Options Strategies with Interactive Brokers. “The market has had a psychological shift,” he says.
Here’s his analysis of where the FAANG gang, as well as the overall stock market, may be heading next:
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