Mister Softee Firming?
With MSFT and AAPL vying for the largest market cap company on the planet (notice there are no $3T names after the recent carnage and Apple nearly crossed the $4T threshold at the end of 2024) the former looks poised to take over the top spot. Technically it looks superior to many of its mega-cap peers as heading into Friday it is carving out a bullish WEEKLY engulfing candle. AAPL on the other hand is showing relative weakness up just 1% this week so far, looking likely to register a bullish counterattack candle, as MSFT has advanced 6% outshining the Nasdaq gaining 5%. Softee’s WEEKLY chart has some green shoots and these “Mag7” stocks are out of favor making them good risk/reward here with few believers and a potential bull catalyst setting up. If this can get its act together look for this in the latter half of 2025 to trend toward a double bottom trigger of 455.35. Its MONTHLY chart is bouncing off the 50 MONTH SMA, much like it did in late 2022 and early 2023. Notice how the back-to-back doji candles in November-December 2021 started a 130 handle drawdown and the bearish gravestone doji last December started a current 4-month losing streak (it is down 7 of the last 9 too so the burden of proof is on the bulls).