The week-ending, headless-chicken short-squeeze topped ever-so-slightly above June 1’s fright-wig peak at 466.32, mainly because that’s where a thousand clowns had placed their stop-loss. But let’s see if the carnies who manipulate this stock for a living have the moxie to take on a second ‘external’ peak at 483.74 that was recorded on June 28. I doubt it, but it should be the absolute minimum requirement for taking the rally seriously, since it would generate a bullish impulse leg of daily-chart degree. As things stand, Friday’s high recouped 57% of the ground lost since a 555 was achieved a year ago. My guess is that Trump’s habitual Sunday afternoon fake-out won’t be quite enough to squeeze MSFT above 483.74 in off-hours trading, but even just a small follow-though after the opening bell will. Stay tuned. _______ UPDATE (Aug 3, 9:50 a.m. EDT): The weasels running the Big Carnival’s MSFT concession are squeezing last week’s earnings report for everything it’s worth. They put shorts badly on the ropes Friday, and that is the reason for their success today. The biggest reverse pattern I can identify projects as high as 548.98, just shy of the record 555.45 achieved a year ago. It also yields a p2 at 499.04 with presumptive stopping power. I’ll be watching that HP closely, using p2 as a minimum upside projection and shorting there. Currently 490.19.
MSFT – Microsoft (Last:490.19)