Feb 05

Microsoft Should Continue Lower

If GOOG's chart is not enough to send shivers down the spines of NDX investors, the chart of Microsoft (Nasdaq: MSFT) could give them the flu. This morning's gap down smashed below the July-Jan up trendline, and the 50-day moving average -- and is trading at the low of the day! Needless to say, the MSFT weakness has inflicted some serious damage to the near-term technical condition. The price structure should continue lower towards the 28-27.50 area next.
Chart

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!