Scandal Fuel:

The mega cap tech companies, which are responsible a good sized chunk of this secular, ongoing bull market have been prone to scandals. Whether it is looking back a few years to Facebook’s Cambridge Analytica, or Google’s Project Nightingale (AMZN has not been immune either). I am not here to judge what they were or what level of guilt there is, only to evaluate their PRICE action. And one can come to the conclusion that they were able to shrug off anything that was thrown their way, including talks of breaking up the three aforementioned behemoths. FB is now well above a 203.90 cup with handle pivot, we have spoke at length about AMZN in recent weeks, and below is the current chart of GOOGL. It is a WEEKLY chart and one can see the beautiful break above a bullish ascending triangle, which formed in conjunction with the round 1000 and 1300 numbers. The stock is on a 6 week winning streak, and up another 4.3% this week thus far, and if that holds would be its best WEEKLY gain since the 10% advance the week ending 7/26/19. The classic definition of a bull market is one that does not give one the chance to get in (lack of pullbacks). The tech giants are giving one a textbook case.

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