MSFT technical outlook – Bill Gates has joined the financial guru club

MSFT, as a bellwether stock with a modest valuation, is also indicating that we have to go lower one more time soon with a price pattern, giving a target of 20 and the weekly and daily Combo counts at 11 respectively 12. That means we need a weekly close below last Friday’s close to finish the current downleg. This adds to my overall assumption that we get a final wave 5 down soon.

Bill Gates has a new profession making calls, even his friend Warren, with a proven track record, would not make so easily. He claims that we will see a fairly severe recession and jobless rate of 9%. That I can unfortunately agree upon. It’s unfortunate because of the consequences it will have on many families and people in general. I have to add though if 9% is the worst point, than we could call it lucky. The chances are big that it even gets more serious than that, much more serious. I hope though that he will be right for the sake of everybody.

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~ by behindthematrix on October 13, 2008.

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