Let's watch Facebook ($FB) to see if it finds support around $83

Facebook ($FB): Houston we have lift off

$FB blasts off the cloud.

$VIX gapping down shows the bullishness that traders have

This can also be a warning sign so caution is advised.

Facebook ($FB) - Something odd was going on in the last 2 weeks of December that wreaks of stock price manipulation

Facebook ($FB) bullish signal issued

Facebook ($FB) - No buy signal yet based on daily chart of Ichimoku Cloud and key indicators

Buy Signal Needed (3 of 4 indicators should turn green)

• Price closes above cloud - (Red)
• RSI turns up - (Green)
• Stochastics - Cross up above signal line (Red)
• PPO - PPO line crosses above signal line (Red)

Facebook ($FB) - Weekly Ichimoku Cloud chart confirms bullish trend and pullback to Kijun Sen (red line) may be a buying opportunity

Ichimoku Cloud: Monitor Facebook ($FB) for a bullish stock price cross of Kijun Sen or a Tenkan Sen (blue line) / Kijun Sen (red line) cross up

Facebook and Twitter - the tale of two opposites when it comes to performance

$FB +42.8%. $TWTR -43.6%

Facebook ($FB): The market seems rigged at times

There was no reason for Facebook to move toward $80 beyond stock price manipulation to inflict maximum pain on option investors. That's why option investors potentially sitting on the wrong side of a bet should close positions at least 2 weeks before expiration if not earlier instead of keeping their fingers crossed.

Ichimoku Cloud indicates Facebook is trading sideways and is not expected to move much

Facebook trapped inside the red lines of a December long iron condor

$FB

Facebook is on the move for some reason

I can't think of any reason why $FB is trending up given the spending spree executives warned investors about when Q3 earnings were released.

Facebook ($FB) is expected to trade sideways until information unfolds about its spending spree

Facebook is trading sideways

 I don't expect that to change and I'm bearish on the stock given the last earnings call. $FB

Facebook has yet to recover after erasing $17 billion in market cap

After reaching an all-time high of $80.77 $FB is down 8%.  The decline was driven by last week's earnings call where $FB indicated it expected expenses to increase by 75%.

Facebook rising before reporting earnings next week

$FB

S&P 500 Sector Rankings

S&P 500 Sectors - Weekly Performance

All sectors were down for the week.

S&P 500 Sectors - Weekly Performance Rank