Microsoft

  • MSFT

  • $417.00

  • +1.00%

  • $411.37

  • $417.40

  • $411.06

Granny Shots

Ticker Appearances

Fri, November 22, 2024 | 2:44PM ET

⚡ FlashInsights

Fri, November 22, 2024 | 2:44PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥
While the bounce into next week remains intact at this point, SPX and QQQ have shown decisive lagging regarding to the Equal-weighted SPX. When eyeing the top 5 stocks in SPX by market cap- NVDA at 3.48T down to GOOGL at 2.03T, each is down at least 3% off all-time highs and in some cases, GOOGL is down 13% from all-time highs. One can see clearly that some interesting sector rotation is happening. Yet, charts of the Roundhill Magnificent 7 ETF (MAGS) show this to be in very good shape, thanks to TSLA which went from laggard to leader recently within the Magnificent 7. Thus, the breadth deterioration having been discussed regarding the US Stock market certainly is not limited to lagging sectors like Staples and Healthcare, but also affecting US Tech "former leaders" like MSFT 1.00% , GOOGL -1.55% , down 11 and 13% respectively from All-time highs("ATH"), NVDA now down 4% from ATH, AMZN -0.63%  down 8% from ATH, and even META is lower by 6%. Important as the top stock by market cap that NVDA not undercut 137, as this would have the power to cause a correction in SPX and QQQ. Chart of MAGS is shown below
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Daily Technical Strategy
Thu, November 14, 2024 | 7:50PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Short-term patterns in AAPL, IWM, MSFT and SPX all discussed

EQUITY TRENDS REMAIN BULLISH FROM EARLY AUGUST BUT STRUCTURALLY HAVE REACHED LEVELS THAT REPRESENT A POOR RISK/REWARD OVER THE NEXT 5-6 WEEKS. THE POST-ELECTION SURGE FOR...

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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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Daily Technical Strategy
Tue, October 8, 2024 | 6:35PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Software breakout should help drive further relative strength within Tech

SHORT-TERM US EQUITY TRENDS LOOK TO HAVE TURNED BACK HIGHER LAST FRIDAY FOLLOWING A CHOPPY PERIOD OF CONSOLIDATION IN RECENT WEEKS.   DESPITE A PLETHORA OF...

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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 1.65% , 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 1.00%  led rally. Rather, it's being led by PLTR 4.45% , ORCL -0.04% , NOW 1.29% , and strong movement out of the likes of CRM 1.86% , PANW -3.65%  which i suspect should rally back to all-time highs. (More on this topic in tonight's report)
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