FAANGs ain’t what they used to be, so beware the bear-market bounce says hedge fund manager Kevin smith. FAANG stands for Facebook, Amazon (AMZN), Apple (AAPL), Netflix (NFLX), and Google (though the first and last are now listed as Meta (META) and Alphabet (GOOGL). The S&P 500’s relative strength index is now at 74 and in “overbought” territory, bearish short-term traders may be expecting a bit of a pullback.
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