FANG+ creating lower highs and lower lows. S&P can make new highs while FANG+ creates another lower high. Another down leg will certainly drag down the overall market. Plenty of overhead resistance in the green box, could get there coming off such daily oversold conditions.
FANG+ = (AAPL, AMZN, GOOGL, FB, BABA, BIDU, NVDA, TWTR, NFLX, TSLA)
FANG+ = (AAPL, AMZN, GOOGL, FB, BABA, BIDU, NVDA, TWTR, NFLX, TSLA)