Hey Google and Softee, is That Your IQ or How Many Friends You Have?

The latest chase into the "Magnificent 7" names has seen GOOGL and MSFT, respectively below on their updated daily charts, melt to new highs as bulls have attained a new level for their aura of invincibility amid weakness in Micron,  NVDA, semis at large, not to mention names like CMG MA V. 

However, I am looking for the intraday fades in GOOGL MSFT off their new highs to mark a key reversal here. Specifically, note the shooting stars or, as some rougher types might suggest, "middle fingers" waving goodbye to the bulls on these highs (arrows).

If there were ever a time to see these names top out, now would be it: The aura of invincibility in these face expensive valuations, steep long-term and intermediate-term charts, headed into what many expect to be yet another seasonally bullish July despite a plethora of macro issues and geopolitical risks all over the place. 

I have long thought that the semiconductors led us up and they will lead us down. Thus, seeing them begin to slide here is another reason to look for the elite Mag7 names like GOOGL MSFT to head-fake on these highs.