I've been trying to see if MSFT has topped. But the primary counts (not shown) signals that the recent 3 days down could just be a correction.
So I have to activate the alternate count here and use it as my primary.
The chart shows a potential ending diagonal. If this count is correct, we have just seen MSFT broke the support trendline yesterday. And if this is genuinely an ending diagonal, we should see price quickly falling.
For those who are unfamiliar with ending diagonals, they usually precedes sharp moves up or down. In my experience, it ALWAYS happen. If it didn't, it means that it is not an ending diagonal. But as with Elliott Waves analysis when you are doing your analysis on the right side of the chart, you wouldn't know until things will actually unfolds. Like I said, this was actually an alternate count. And I am forcing this alternate count as I have a negative bias on the markets now.
Keep an open mind. Take this as a reference.
Good luck!
So I have to activate the alternate count here and use it as my primary.
The chart shows a potential ending diagonal. If this count is correct, we have just seen MSFT broke the support trendline yesterday. And if this is genuinely an ending diagonal, we should see price quickly falling.
For those who are unfamiliar with ending diagonals, they usually precedes sharp moves up or down. In my experience, it ALWAYS happen. If it didn't, it means that it is not an ending diagonal. But as with Elliott Waves analysis when you are doing your analysis on the right side of the chart, you wouldn't know until things will actually unfolds. Like I said, this was actually an alternate count. And I am forcing this alternate count as I have a negative bias on the markets now.
Keep an open mind. Take this as a reference.
Good luck!
