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Is Microsoft’s bull market in the final innings?

Amongst the many tenants of Dow Theory are that, markets trend and when they do start up trending, then they can be broken down into 3 distinct phases: 1. Early Adapters (Accumulation) , 2. The Crowd and 3. Euphoria / (Distribution). Elliott wave enthusiasts follow this script religiously and just add a few numbers to their charts. The below daily chart of Microsoft, MSFT showcases what we just described.

If our wave count turns out to be correct and we are in the final innings of Microsoft’s Bull market, then how important will this chart be for the S&P 500?

Watch for signs of a blow off top/price reversals next week. For now , if long just trail your stops and ride it!

All charts were created using Tradingview.com – one of the best charting platforms out there!