Microsoft ($MSFT) and Apple ($APPL) 💻 | New Highs for the Market
🐮🖥️🐮 Apple and Microsoft are giants of tech and some of the largest holdings of the major indexes. If these companies run, not to mention the other tech giants like Facebook and Alphabet, then the markets will almost certainly run with them.
Just look at the top 5 holdings of the S&P:
Here are the top 5 holdings of the Nasdaq:
Here is the top DOW holdings With non-tech excluded (Microsoft is the 6th on the list, Apple is still #1):
It should be obvious to you now what we mean when we say "if these stocks run, then the market runs." We mean, they are the biggest parts of the major indexes!
This is good news for the bulls, because run is exactly what is about to happen based on historical trends.
Some people seem to think that these tech stocks rushing past new all-time-highs perhaps signals the top of not only these companies but the market. In fact, we commonly hear this sort of sentiment every time it happens. Reality is just the opposite.
The fact that these companies are breaking all-time-highs is actually bullish for them and the market as a whole.
On top of that, the news is bullish for these companies as well (COVID aside). We have new iPhones, a slick new MacBook Pro, a new Surface Duo, and a declaration against Face ID for Microsoft.
In short, there is nothing really substantial to bring these giants down aside from the broader market, but again, it is more likely they bring the market up. Don't take our word for it though, the historic patterns are clearly illustrated on our charts.
On the charts, you can see yellow horizontal lines marking off each new high. You can clearly see that the longstanding pattern is that breaking a new high is bullish for both Apple and Microsoft (with this being true in spite of any bearish disbelief).
In summary, breaking all-time-highs with conviction is bullish for the tech giants, which is bullish for the markets. So after that last break, our only questions are "when" and "how high?"
Resources: etf.com/SPY + forbes.com/sites/gordonkelly/2020/06/11/apple-iphone-12-new-models-design-release-date-update-iphone-11-pro-max/ + forbes.com/sites/ewanspence/2020/06/11/apple-macos-intel-arm-macbook-macbook-pro-mac-imac-wwdc-launch-date-leak/ + foxnews.com/tech/amazon-microsoft-no-facial-recognition-software-police + mspoweruser.com/claim-surface-duo-launch-mere-weeks-away/
✨ Drop a comment asking for an update, we do NEW setups every day! ✨
Like, Comment & Follow to help the community grow 🎉🎉
Just look at the top 5 holdings of the S&P:
- Microsoft Corporation 5.68%
- Apple Inc. 5.60%
- Amazon.com, Inc. 4.26%
- Facebook, Inc. Class A2.16%
- Alphabet Inc. Class A1.68%
- Alphabet Inc. Class C1.68%
Here are the top 5 holdings of the Nasdaq:
- Apple Inc. 11.83%
- Microsoft Corporation 11.41%
- Amazon.com, Inc. 10.25%
- Facebook, Inc. Class A 4.35%
- Alphabet Inc. Class A 3.88%
- Alphabet Inc. Class C 3.85%
Here is the top DOW holdings With non-tech excluded (Microsoft is the 6th on the list, Apple is still #1):
- Apple Inc.9.14%
- Microsoft Corporation 5.07%
It should be obvious to you now what we mean when we say "if these stocks run, then the market runs." We mean, they are the biggest parts of the major indexes!
This is good news for the bulls, because run is exactly what is about to happen based on historical trends.
Some people seem to think that these tech stocks rushing past new all-time-highs perhaps signals the top of not only these companies but the market. In fact, we commonly hear this sort of sentiment every time it happens. Reality is just the opposite.
The fact that these companies are breaking all-time-highs is actually bullish for them and the market as a whole.
On top of that, the news is bullish for these companies as well (COVID aside). We have new iPhones, a slick new MacBook Pro, a new Surface Duo, and a declaration against Face ID for Microsoft.
In short, there is nothing really substantial to bring these giants down aside from the broader market, but again, it is more likely they bring the market up. Don't take our word for it though, the historic patterns are clearly illustrated on our charts.
On the charts, you can see yellow horizontal lines marking off each new high. You can clearly see that the longstanding pattern is that breaking a new high is bullish for both Apple and Microsoft (with this being true in spite of any bearish disbelief).
In summary, breaking all-time-highs with conviction is bullish for the tech giants, which is bullish for the markets. So after that last break, our only questions are "when" and "how high?"
Resources: etf.com/SPY + forbes.com/sites/gordonkelly/2020/06/11/apple-iphone-12-new-models-design-release-date-update-iphone-11-pro-max/ + forbes.com/sites/ewanspence/2020/06/11/apple-macos-intel-arm-macbook-macbook-pro-mac-imac-wwdc-launch-date-leak/ + foxnews.com/tech/amazon-microsoft-no-facial-recognition-software-police + mspoweruser.com/claim-surface-duo-launch-mere-weeks-away/
✨ Drop a comment asking for an update, we do NEW setups every day! ✨
Like, Comment & Follow to help the community grow 🎉🎉
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.