Microsoft needs MMT to move higher from here.
Microsoft is historically extremely expensive with this valuation.
Into massive weekly resistance, MSFT has now retraced back to the breakdown zone while hitting ATH's
Microsoft saw a big green to red reversal today on heavy volume at the All time highs of the chart.
If this bell weather name is finally done trending higher it sure to weigh in on the indices even with the slightest pullback.
Are we seeing a divergence in the market?
Interest rates & yields have cooled off significantly in recent trading sessions thus providing the perfect tailwinds for tch to continue higher.
Todays price action saw Tech make a new nominal high as yields were falling but ended up reversing lower. The fact that tech appears to be selling off under falling yields...
NVDA just put in a weekly bearish engulfing candle!
This is the first sing of a leading Mega Cap potentially seeing some distribution.
If this bell weather names keeps falling its going to turn the sentiment in the semiconductors slightly more bearish and will weigh in on the QQQ.
Markets have had an extraordinary move to the upside with 8 days of consecutive gains and 9 days in the QQQ.
Semiconductors often lead the market and have now hit major resistance.
Microsoft has almost completed its bullish move.