Since I posted my article of May 28 regarding the five FAANG stocks, we've seen some profit-taking in all of them over the past week, most notably in Netflix (NFLX), as illustrated on the 1-Month and 1-Week percentages gained/lost graphs below.

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As shown on the following 1-year Daily chartgrid, three of the five are trading around their 50-day moving average, while NFLX and AAPL are now below. All five are hovering around price support. 

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As I mentioned in my prior article, I'd watch to see whether these stocks break, hold below their respective near-term support levels, and continue to weaken, as such a scenario could precipitate an overall weakening of U.S. equity markets, in general...or whether we see a meaningful bounce anytime soon, accompanied by sustained, decent volumes. 

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