MSFT News
The big news hitting the market today involves Microsoft — as an appeals court has reversed the court order to break up Microsoft.
S&Ps are at 1242.50 currently, approaching the intraday highs at 1243. NASDAQ is at new highs of 1865. Obviously, MSFT is the reason for this strong upward move.
For the S&Ps, our next upside targets are 1246.50 and then 1249.50. Above that, the target would become the gap at 1252.80.
NASDAQ is facing resistance at 1875 to 1885. Earlier, we believed that the 1880 area would cap any move today. But that was before the MSFT emotionally charged announcement.
Keep an eye on the MSFT stock price as it is clearly leading these markets.