Surprise News From Microsoft Drags Market, Signs Of Real Slippage Follow
Tim Knight | Jun 02, 2022 10:35AM ET
Well, this morning is a disappointment so far. The surprise news from Microsoft (NASDAQ:MSFT) briefly took the market down hard, but as I’m typing this, every single stock futures contract is in the green.
The real estate fund iShares U.S. Real Estate ETF (NYSE:IYR) is down, however, in spite of the rally, and it remains one of the cleanest topping patterns in ETF-land.
The longer-term chart illustrates nicely the larger potential of this position.
I guess the day will be relatively quiet as we await Friday morning’s job report. I have done little trading so far, and I suspect even now I might be done for the day with any trades.
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