MSFT – Microsoft (Last:428.62)

Although AAPL precisely fulfilled a longstanding target at 430.54 on the weekly chart on Friday, the rally still has a ways to go before it achieves an ‘extension’ target at 456.88 that comes from the C-D leg of the larger pattern. This is how we deal with rallies when they exceed big-picture targets, and the smaller segment should be judged on its own merits without much regard to  — in this case — MSFT’s weekly chart. That implies 456.88 is very likely to be achieved, and precisely, given price action at p. The initial stall there confirmed the legitimacy of the pattern itself, while the easy penetration of p=383 six weeks later strongly implied the rally would continue to D. ________ UPDATE (Mar 21, 10:24 a.m.): However compelling the long-term target at 430.54 might seem, the 439.35 target shown in this short-term picture takes precedence at the moment, since the explosive move past p implies D=439.35 is all but certain to be reached.