MSFT is good for correlation trading today

Correlation trading strategy idea analysis.

The market is falling today, and we can notice freshly formed resistance levels.
There will be many opportunities for correlation trading if the market goes up.

Microsoft has a very big weight in the S&P 500, so this stock is good for correlation trading.
Look on the $SPY and $MSFT charts.
Actual corresponding support&resistance levels look so much alike.
Correlation is good enough to expect future similar moves.

Following the correlation trading strategy, it is reasonable to wait for correlated level breaking.
When $SPY and $MSFT simultaneously break their resistance levels, It will be possible to buy $MSFT.
When $SPY and $MSFT simultaneously break their support levels, It will be possible to short $MSFT.

Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.

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