Friday was a very bearish day for MSFT. It gapped up, but the traders came out of the booth and started to sell right away. This is partially due to QT and weakness in QQQ. After the spectecular short squeeze, we could see a healthy pullback back to 7250 or even as low as 7150 area. Failure to hold that area opens 6600 for NQ. Should NQ continues its bearish trend on Monday, we could see a selloff into the monthly close where another QT awaits.
Comment:
Oops! NQ - 0.31% on no news. Will MSFT be able to sustain its earnings gain?