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.