If GOOG’s chart is not enough to send shivers down the spines of NDX investors, the chart of Microsoft (MSFT) could give them the flu. This morning’s gap down smashed below the July-January up trendline, and the 50-day moving average – and is trading at the low of the day. Needless to say, the MSFT weakness has inflicted some serious damage to the near-term technical condition. The price structure should continue lower towards the 28-27.50 area next.





Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.