Mega Cap Green Shoots:

Two weeks ago I authored a piece about “What If” the Nasdaq giants decided to come out of their 3 month hibernation and start to participate. It was in that Technology Note from 12/7, that I pondered what would happen if AAPL, AMZN or MSFT showed some strength? Well AAPL listened surging 5% on 12/15, and Monday nearly CLOSED that small gap from the 12/14 session almost precisely before rallying throughout the day. AMZN still seems to be stuck it sideways mode, but the other of the three aforementioned mega caps, in MSFT flexed its muscles to start the week. Mister Softee is now quietly just 5% off most recent all time highs, and is quickly approaching a cup base pivot of 233.86 in a base more than 3 weeks long. Monday rose nearly 2%, and on its WEEKLY chart the last 5 weeks have registered very taut WEEKLY ranges. This type of action often leads to explosive moves and this may be the beginning of something special for Microsoft.

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