MAG 7 Is Tired: Only One King Left Standing
Meta at mega levels
META has pulled back to the major trendline that’s been intact since the 2023 lows. Around $600 (give or take) is the line-in-the-sand level to watch. Worth noting: the death cross has been in place for some time now.
Source: LSEG Workspace
Not even anti AI
Apple started losing the anti AI outperformance touch late last year. The stock is down to major supports. A close below these would not look good. We are well below the 50 day (now negatively sloping) and we are testing the 100 day here.
Source: LSEG Workspace
Boring at best
MSFT continues trading offered, breaking below some important short term supports yesterday. Let's see how this plays out, but the long term trend line is lower and the death cross is closing in on us...
Source: LSEG Workspace
Boring
NVDA continues to trade stuck in the range that has been in place since July. We aren't getting excited until we break out, either way.
Source: LSEG Workspace
AMZN
Amazon has also been stuck in a range since last summer, but the longer-term trend remains intact. The stock still flashes pockets of upside momentum from time to time. A decisive close above the $250 area is key to unlock the next leg higher.
Source: LSEG Workspace
TSLA
Tesla has also been stuck in a range, this one dating back to September. The attempted breakout to new ATHs failed and was quickly reversed. Price is now back down at the trendline that’s been in place since last year’s lows, with the 100-day MA sitting slightly lower as added support.
Source: LSEG Workspace
King of MAG
Google is the undisputed king of the MAGs. Since the September gap-up, the trend has been nothing short of impressive. Every dip toward the 21-day has been aggressively bought, while the 50-day is riding just beneath the steep uptrend. Textbook strong momentum.
Source: LSEG Workspace
GOOGL first — then everything else.
The chart shows MegaCap Tech (NVDA, GOOG, AAPL, MSFT, AMZN, META) relative to GOOGL’s performance over the past ~10 years. It’s not the cleanest comparison (six equal-weighted stocks versus one), but it makes a clear point: much of the recent “big tech” outperformance has effectively been a GOOGL story. Since mid-August alone, GOOGL is up +62%, versus AAPL +12%, AMZN +7%, NVDA +3%, MSFT -8%, and META -17%. The obvious question: does this concentration unwind in 2026? (GS TMT sales)
