Microsoft Corp.Short
Microsoft Major Peak In?
I think there is a reasonable chance the peak for microsoft is in and the market will make a lower high over the next few weeks. (could also continue lower without that lower high)
Monthly candle is a pin bar which is bearish.
Weekly structure has shifted bearish.
The return move back up to the highs has been slow and choppy and has not sustained the pace of the prior trend.
There is a break of the ascending pink trendline - though it is not a clear break just yet - would prefer to see further displacement through it. But still a bearish sign.
The economic data in my view supports the idea of an upcoming recession / already in a recession.
We could see a 72-80% correction.
Dot.com bubble saw approx 75% correction.
The green zone down there highlights a probable area for the market to return to, those are levels seen only 4 and a bit years ago so it is not unreasonable to see a nasty correction like this if a bad recession comes a long which I think is likely.
I don’t think the US indices have peaked yet. Possible the Dow Jones has but I see the SPX500, NAS100 and Russel 2000 making new highs first over the next 2-6 weeks before I expect the crash to likely begin.
Monthly candle is a pin bar which is bearish.
Weekly structure has shifted bearish.
The return move back up to the highs has been slow and choppy and has not sustained the pace of the prior trend.
There is a break of the ascending pink trendline - though it is not a clear break just yet - would prefer to see further displacement through it. But still a bearish sign.
The economic data in my view supports the idea of an upcoming recession / already in a recession.
We could see a 72-80% correction.
Dot.com bubble saw approx 75% correction.
The green zone down there highlights a probable area for the market to return to, those are levels seen only 4 and a bit years ago so it is not unreasonable to see a nasty correction like this if a bad recession comes a long which I think is likely.
I don’t think the US indices have peaked yet. Possible the Dow Jones has but I see the SPX500, NAS100 and Russel 2000 making new highs first over the next 2-6 weeks before I expect the crash to likely begin.
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