MSFT
-3.12%
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XAG/USD
-0.86%
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Silver
-0.39%
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COIN
-4.91%
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Over the weekend I mentioned how on Valentine’s Day, I talked with Jon Erlichman of Bloomberg about what tradeable instrument I would date and which one I would marry.
He also asked me, to comment on which instrument I believed got away?
To refresh memories, I am dating COIN-up over 12% to start the week.
I married silver, up nearly 3% on Monday.
But the one that got away?
Microsoft (NASDAQ:MSFT) has been consolidating between $400-$420 since Valentine’s Day.
Does that mean I still have a chance?
The simple answer is yes.
Since the highs were put into place on February 9th at around $420, MSFT has traded narrowly.
Plus, it remains above the January 6-month calendar range high at around 395.
What we will watch for is when MSFT starts to outperform the benchmark and when momentum clears the February 14th or V-day level.
These tools should correspond to a breakout over the trading range and help us determine a good risk point.
We believe MSFT can head up to $485, especially as we are huge fans of Co-Pilot, MSFT’s latest AI software.
ETF Summary
- S&P 500 (SPY) 510 now pivotal
- Russell 2000 (IWM) 212 next major resistance and 205 support
- Dow (DIA) 385 support 400 resistance
- Nasdaq (QQQ) New highs today yet made with a whimper
- Regional banks (KRE) 45-50 range
- Semiconductors (SMH) Sister Parabolic-watch those gaps to hold/fail
- Transportation (IYT New all-time high now 280 support
- Biotechnology (IBB) Looking at 140-142 next levels to clear
- Retail (XRT) 75.50 support
- iShares iBoxx Hi Yd Cor Bond ETF (HYG) 77 big number to hold (still)