Why should we pay attention to MSFT as a major market driver? Because MSFT + AAPL makes more than 10% of the SPY Index holding (AAPL: 6.68% / MSFT: 5,29%), We can deduce that any major movement on these 2 assets will be a major driver for the stock market as a whole.
What can we see on AAPL? Like MSFT, we can observe a broken Triangle Pattern and the price making ATH, so we expect more bullish pressure coming.
And what about AMZN?
AMZN makes 4.37% of the SPY holdings, and we can see the same type of structure as MSFT and AAPL
What can we conclude based on these structures? The way we approach the market is using Technical Analysis as a major tool to understand the accumulation and distribution process. Meaning that we aim to know if institutional traders are buying or selling certain assets based on Price structures. Elliott / Wykoff / Dow developed this type of approach.
Our conclusion is that if we are observing accumulation structures (which we think they are), we should expect a bullish impulse in these 3 assets that will be a major driver for the stock market as a whole.
We've featured this on Editors' Picks because of the written description and chart analysis! Thanks for sharing
ThinkingAntsOk
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@TradingView, Thanks for the Editors´Pick! We are glad to be part of the Trading View community!
Samvill81
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looks to me MSFT is moving between its value area without any strong initiative from buyers
ThinkingAntsOk
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@Samvill81, Hi, yes, these 150 days were a clear sideway market; if we have a new ATH, that would be a good sign that bullish pressure is coming again. Thanks for your comment!
cockhead
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Very helpful!
ChingisR
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You are the best man, looking forward to your new explanation!
ThinkingAntsOk
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@ChingisR, Thanks for your comment! We are glad the information was useful
MacBull1557
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add amazon long consolidation and the fact its undervalued as of now 4200 pt