MSFT

MSFT is right at the resistence level. In light of next week feds decision on interest hike, I closed a long position opened at 25.32 on March 26.

Looking longer term, MSFT has had this breakout from its intermediate-term downtrend and it is approaching the long-term resistence at 30. From the rising triangle, let’s watch if it breaks out to the up side.

GDP Growth and Rate Hike …

This morning GDP growth rate was published. It’s lower than expected. Considering the Feds comment on the future rate hike earlier this week, this lower than expected GDP number may ease some concerns on the feds. So we may see mkt going higher later today. S&P did reverse itself at 1120 support.