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Benzinga
Benzinga
Business
Melanie Schaffer

Chart Wars: Amazon, Alphabet Stocks Enter Downtrend As Bear Market Rages On

Amazon Alphabet Google Nasdaq Alphabet Inc

Amazon.com Inc. (NASDAQ:AMZN) and Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) both entered downtrends on Aug. 16.

When the S&P 500 rejected the 200-day simple moving average at the top of the last short-term bull cycle. The two tech giants hold the third and fifth and sixth spots in terms of the SPY’s weightings, with Amazon weighted at 7.64% and Alphabet Class A and Class B weighted at 4.04% and 3.85%, respectively.

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