Update: Bullish Channel Failure; Bearish Stumble | $NASDAQ

Friends,

Ever since we covered #MSFT on January 30th (See "Is Micro Soft?" here: tradingview.com/v/lPZBswWg/ and subsequent analysis here: tradingview.com/v/xdaSmYMa/), the stock has managed to stumble out of a short-term bullish channel. A relief rally has a good chance to hit the underbelly of that bullish channel which it is likely to act as a backstop against further advance in price - A typical counter-trend observation.


OVERALL:
Our analysis remains bearish based on bearish market reversal confirmation signals. Our forecast are intact and in force.


David Alcindor | 4xQuad
Predictive Analysis & Forecasting
Denver, Colorado, USA


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1 - #USDollar: on.fb.me/19Pf77y
2 - #AUDUSD: on.fb.me/1kDHbdB
3 - #NGAS: on.fb.me/1aSMYHV
More archived here: bit.ly/16JMnH8

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Disclaimer: All of our analyses are for educational purpose only. The forecasts, analyses and opinions generated herein are not trading recommendations. We trust that you would do your own due diligence first, then seek professional advice from a licensed professional and enter the market at your own perils - David Alcindor - a.k.a.: 4xForecaster | 4xQuad, LLC.