The 456.88 target shown presents itself so clearly on the monthly chart that I am de-emphasizing the 452.35 target of a lesser pattern given here earlier. The latter could still show some stopping power, and we should therefore remain alert to the possibility that it will generate a major top. We can attempt shorting there, too, but the higher target is where we’ll train our firepower. It caps a pattern that is more obvious than we should prefer, but my use of a quintessentially ‘textbook’ one-off ‘A’ might give us an edge over traders who will be using the somewhat higher 462.80 target associated with the marquee low at 213.43.
MSFT – Microsoft (Last:449.78)
