MSFT – Microsoft (Last:428.50)

Although the stock has continued to noodle around near a very major target at 430.84, I’m going to focus on the minor pattern shown, with a 439.35 target. It is clear, compelling — and entirely likely to be reached, given Thursday’s gap up through p=426.07. A pullback to x=419.43 should be bought ‘mechanically’, and you can also get short at the target if you’ve held a profitable position on the way up. For now, we’ll pretend the 430.84 target doesn’t exist.