Can Microsoft Save The Nasdaq?

We think the next move for the Qs is down, before a sustained push higher. We quantify this below.

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Beware The Rug Pull

MSFT earnings provide a wonderful opportunity for Big Money to take some gains at the expense of the late money now rushing in to buy.  (The same Late Money that could have been buying at the Q4 lows).  So as always we watch the charts, we don't assume that it's up-up-and-away now, just because various talking heads will now be saying so.

We think that despite the all-bulled-up animal spirits apparently roaming the Street right now, there is short-term downside risk to markets, before a new push higher. We lay this out below for our Premium and Pro members.