Microsoft

  • MSFT

  • $413.89

  • -0.39%

  • $419.50

  • $419.78

  • $410.29

Granny Shots

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Daily Technical Strategy
Mon, November 4, 2024 | 7:02PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Software continues to make strides vs. Semiconductors

EQUITY TRENDS REMAIN BULLISH FROM EARLY AUGUST BUT HAVE SHOWN MILD CONSOLIDATION OVER THE LAST TWO WEEKS WHICH HAS RESULTED IN A 2% DECLINE IN...

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Visitor: 88f86a-bc2148-6126f9-f188f7-b09cf2

Tue, October 8, 2024 | 12:07PM ET

⚡ FlashInsights

Tue, October 8, 2024 | 12:07PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Time to refresh comments on IGV 1.69% , the Ishares expanded Tech-Software ETF, as this is now exceeding 90, and officially breaking out above two prior peaks from this year along with Nov 2021 in a very bullish Cup and Handle pattern back to new all-time high territory. While Semis still are outperforming Software on an intermediate-term basis, Software has shown better relative strength since this Summer. Note, this Software outperformance is not the normal MSFT -0.39%  led rally. Rather, it's being led by PLTR 0.10% , ORCL 2.15% , NOW 2.18% , and strong movement out of the likes of CRM 4.63% , PANW 1.15%  which i suspect should rally back to all-time highs. (More on this topic in tonight's report)
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