FAANG showing that the super giants of the tech world also know how to be slow and steady. This move is still one of the only ones that I believe makes sense in the broader global context that the markets exist in.
Interesting observation. The linear trajectory of the advance makes it seem artificial.
Moon_Rocket_Capital
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@Skipper86, Keep in mind that the channel is essentially +/- 5% from the middle point; so within the channel there is a lot of the micro movements that tend to generate the headlines these days.
ogdabber
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Interesting look. I don't feel that the fundamentals and reality of this makes sense, but at least this brings some sort of reassurance. I'm thinking there's a good chance that this trendline will eventually break, and we'll see it fall back to early 2020 levels, build support, and then either tank or continue back up with all of these new "day traders"
What have people been doing for the last 3 months? Watching Netflix, buying on Amazon, complaining about life on Facebook, etc...
Until the advertising dollars dry up; I think these platforms will continue to see increases in user activity/consumption. But, in the grand context of a world seemingly losing control - should the markets be so bullish? Almost certainly not. But hey, here we are...