$MSFT TOP 20
Added 2024-05-01 13:30:56 +0000 UTC1hr and Daily chart added here to see the full story.
$388 is a very important level for the bulls to defend today, there was excessive selling into the close yesterday and I alerted that if a new lower low was made by $MSFT, this would almost certainly trigger further selling across the market, as this was a harsh rejection at the 50 Day MA and the trend would be confirmed to the downside for one of its strongest companies.....we have already seen that $AAPL has completed Wave A, confirming $MSFT in Wave A would be a big statement too.
This is what I will be watching for the next 2 days.
Likely to be some volatility today as the market waits for the FOMC and Powell to make a decision on rates.
I expect no changes to the rates but I don't expect him to speak dovish either.
If he wants to hurt the market today, he can easily do so by further suggesting a rate hike may be needed.
