$MSFT TOP 20
Added 2024-11-23 16:08:00 +0000 UTCOk the good news is that $MSFT is still holding above the 0.236 Fib at $408, with the $400 level being the Corrective Wave C confirmation level for us.
The bad news is that the price is still below the 50 and 200 Day MA and we could be looking at a death cross this week ahead between the 50 - 200 Day MA's.
So bulls need to start this week ahead strong and recapture $422 or it may be difficult to stay above $408.
I think the market only needs to see $MSFT drift up to $470 and the market can melt up then, meaning $MSFT could still be in a corrective wave but it benefits the market greatly.
Comments
Death cross on MSFT would only speed this process up in my opinion
Savage Capital
2024-11-23 16:14:32 +0000 UTCI wouldn't be surprised if stocks eventually nuke hard while crypto swallow all of this capital. Especially if we start seeing more utility or big companies tokenizing their assests with their own crypto currencies (I'm aware that's the repeating mantra every cycle but it's never been close to reality than after ETFs approval, Gary Genslers departure and pro-crypto USA government
Savage Capital
2024-11-23 16:13:33 +0000 UTCWe could be seeing capital flowing out of stocks (especially MAG7) to crypto after all of the regulations are settled and R/R much more attractive for investors
Savage Capital
2024-11-23 16:10:20 +0000 UTC
