MSFT is falling after having slightly exceeded the 462.80 target shown. Ordinarily I would regard the overshoot as mildly bullish, but in this case the target was simply front-run by sellers eager to short an ABC pattern so obvious it could be seen from outer space. With all these clowns piling on, the short squeeze that occurred above the target should have been stronger. The implication is that the stock is falling on organic weakness and will need to correct stridently before it can turn around. Hidden Pivot levels aside, my guess is that the pullback will come down into the space defined by the two prior lows at, respectively, 388 an 404.
MSFT – Microsoft (Last:437.11)
