MSFT update

Here is the back link.  While shares did head down as modeled, the big rise since the 16th has greatly weakened the idea that MSFT has entered a new bear.  The chart is below and it contains the only count which could be interpreted as potentially bearish.  It's the old 1-2-1-2-3-4-5-3-4-5 extended 3rd wave stutter step.  If this is going to be the case, both MSFT (and the DJIA/$COMPX) need to turn dramatically lower most riki-tik.

If this breaks out above $49 then what I modeled as wave 5 in the prior post was only 1 of 5, this 3 wave move down seen below was an a-b-c to 2 of 5 and 3 of 5 is about to pop above that top rail to a new all time high.  You do not want to sit through this in UVXY if you don't have to.  Better to trade out on the break out and then buy back in if it cannot stay on top of that top grey rail.