Microsoft (MSFT)
MSFT went above our $415 target briefly, before gaping down on February 13th. Based on valuations as well as a very mature 5 wave pattern completing on the technicals, we have further sold MSFT down in our portfolio. Below $385 is the first warning for the bulls, and below $370 will signal the bigger top is underway.
Nvidia (NVDA)
This is a stock we will likely hedge, and not reduce considering its leading position within the burgeoning AI trend. Unlike many stocks, NVDA looks like it has room for one more high. The uptrend is missing a 4th and 5th wave. This drop is likely the start of 4, and should pull back to the $660 – $615 range; however, it can drop as low as $590 and still maintain the potential to push higher in the coming weeks/months. Our upper targets are $820 – $864 for the 5th, as long as $590 holds.
Bitcoin (BTCUSD)
The $57,000 resistance will be the major line in the sand overhead. If we can cross it and hold, then our long-term targets will increase in probabilities. In the meantime, I still believe we are in correction, and should see a drop back into the $38,000 – $36,000 range. The larger uptrend remains intact as long as we stay over $25,100.
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