GOOGL joins AAPL, MSFT, and AMZN in the one trillion dollar valuation club. GOOGL prints a new all-time high at 1451.99. Humorously, Alphabet is passing out "GOOGL 1450" hats and the screenprinter is busy producing the "GOOGL 1.5K" hats that the market makers say they need by Monday.
Amazon has slipped below the $1T mark after attaining the elite level, but Apple, Mr Softy and now Alphabet (Google) are above $1T. The Google jack*sses changed the name years ago so now everyone says Alphabet and then Google one second later. Do not follow the GOOG chart since it starts at 2014 instead use the GOOGL chart since it includes all the history of Google, er Alphabet. Those jack*sses!
Here are the top four largest companies in the US by market cap with some others for comparison. These tech giants are pumped to the stratosphere by the Federal Reserve's and other global central banker's easy money. The world is one big par-tay awash in liquidity.
Apple (AAPL; Sapple) $1.382 trillion
Microsoft (MSFT; Mr Softy) $1.291 trillion
Alphabet (GOOGL; Google) $1.001 trillion
Amazon (AMZN; Scamazon) $931.1 billion
Nike (NKE) $725.9 billion
Facebook (FB; Faceplant; MomBook) $632.4 billion
Alibaba (BABA) $615.3 billion
Visa (V) $446.6 billion
J P Morgan Chase (JPM) $423.3 billion
Johnson & Johnson (JNJ; Johnny John) $392.6 billion
Walmart (WMT) $328.8 billion
Mastercard (MA) $323.2 billion
Bank of America (BAC) $312.3 billion
Exxon (XOM) $291.2 billion
AT&T (T) $277.8 billion
Walt Disney (DIS; Mouse House) $261.6 billion
Home Depot (HD) $249.1 billion
Chevron (CVX) $221.0 billion
Boeing (BA) $186.9 billion
Netflix (NFLX) $148.4 billion
United Technologies (UTX) $132.6 billion
International Business Machines (IBM; Big Blue) $123.5 billion
Texas Instruments (TXN; TI; Texan) $123.1 billion
3M Company (MMM; Triple M) $104.1 billion
Tesla (TSLA) $92.0 billion
Goldman Sachs (GS; Goldy; Vampire Squid) $88.4 billion
Caterpillar (CAT; Cat) $81.7 billion
Schlumberger (SLB; Slob) $53.1 billion
The parabolic move in GOOGL is impressive; it's the best that the Federal Reserve's money-printing can buy. Alphabet jumps from 1100 to 1450 on the Fed's QE program that started in October; a stunning +32% gain in only 3-1/2 months. The wealthy elite class dance with glee, smoking expensive cigars, dabbing the ashes onto the foreheads of the huddled masses. The privileged class, that own huge stock portfolios and control the rigged game, destroyed the middle class over the last five decades, and thus, destroyed society and the country. We are watching the last vestiges of greed, and the crony capitalism system, play out in America.
The RSI and stochastics are overbot agreeable to a pullback. The stoch's are also neggie d, ditto the histogram. These will create a negative pull on price for a week or so, however, the RSI, MACD line and money flow are long and strong providing more upside fuel on the weekly basis. So price will come up for another high after any pullback. GOOGL will likely go through a chop now with an upward bias, down one week, up one week, down one week, up one week, and in about 3 weeks, check that MACD line to see if negatively diverges; that will tell you the top is in for GOOGL on the weekly basis. So that is probably early or mid February where it will roll over on the weekly basis. Do not short it now but instead wait 2 or 3 weeks and see where the chart progresses for a better entry on the short side if that is on your mind. The candlestick will fluctuate in shape today since it is a weekly candlestick and today is Friday the last day of the week.
Price has violated the upper band so the middle band at 1299, and rising, is on the table and the lower band at 1160 in this weekly basis. The ADX is almost showing that the wild upside rally is developing into a strong trend higher, but not yet. Alphabet bears will need to see the ADX roll over. The Aroon displays maximum euphoric joy in Alphabet currently; it cannot become anymore joyful. The green line is at 100 and the red line at zero both have no choice but to move in a bearish direction.
The FAANG stocks (FB, AAPL, AMZN, NFLX, GOOGL) have created the bulk of the gains over the last four months as traders and investors scoop up buckets full of liquidity from central bankers and buy stocks. Traders are buying the high-flyers with both fists. It will be comical when it reverses.
GOOGL has some more legs higher on the weekly basis; call it a sideways chop with an upward bias for the next 2 to 4 weeks when it will top out and die in this weekly time frame. Several weeks of downside will follow. Since the FAANG's are pumped plumper than a campfire air mattress, and have momentum, they will roll over after the broad stock market peaks and rolls over. Thus, if Alphabet will likely top out in 3 or 4 weeks, perhaps the broad stock market will top out over the coming days or couple weeks; it certainly is long overdue even weeks overdue. The stock market top is delayed as Pope Powell pumps equities with easy money liquidity. The party continues. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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