SPX 1362-1370,

Carefully thinking to try to do some short for pullback but actually hedged still ie. long with stocks.

Microsoft ElliottWave WXY has worked well but I calculated one target for it on december as 32 $ from this WXY sideways zigzag pattern in the weekly chart, either way I think it might be on the way to 38 $ and is under impulse waves but 32 might offer shorterm wave change.

The 16 % of it´s stocks are owned by ETF and IndexFunds - currently they are forced to buy 160 million new stocks from the open market because there is balance change to become for SPX index is what I have understood, it might be also the reason why Nokia boosted up first +5% on friday (finally !)  from this Wave2 bottom territory but impossible to say does it effect for Microsoft OEM manufacturers or is the reason something else. Nokia itself is not attatched in SPX Index.

It worked well, the MSFT long - on the other hand the weekly charts posted below might also suggest that any short might not simply work so well anymore. If this market is under weekly W3s negative divergences or such technical issues might simple just not work out anymore much.
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