The Long Investor

$MSFT TOP 20

Added 2024-02-18 19:38:06 +0000 UTC

For us, $MSFT is the only Mega Cap that appears to have finished its Wave 5 now, exactly in 5 waves and finishing not extended in between the 2.27 - 2.618 Fib levels.

$MSFT has been the perfect example of a chart following EW Theory all year so it is not surprising to see it continuing to behave in this manner.

There is still some distance to the 50 Day MA at $387, losing this level and this has our attention, as any further rejection to get back above the 50 Day MA will give us the confirmation that $MSFT is in its ABC correction.

So we have said for months now that we are watching all of these indications to see when the market corrects and everything has been going to plan.

When any sign comes in of a correction, we'll be ready.