$MSFT – Microsoft (Last:430.59)

I’ve been talking about the 449.42 rally target for more than a month, which is probably reason to think it won’t work. Still, I cannot imagine the futures blowing past it on the first try. The reverse pattern from which the target is derived is too clear and compelling not to stymie the thundering herd, even if only for a day or two. A shallow pullback that lasts for perhaps 2-3 days and works bears into a state of nervous exhaustion would be warning them to dive for cover. Would they even want to know at that point that there would be another opportunity to lay ’em out at 465.90. That’s the D target that maxes out reverse-pattern possibilities with the lowest ‘a’ that is not part of a conventional pattern.  (Note to Pivoteers: This is what I call a locked point ‘a’ high or low, a term worth remembering and asking about.)

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