$SPDR S&P 500 ETF Trust(SPY)$ SPXHistorically, when a day closes above Friday's close, the next 10 days average +3.17% from the signal. However, there are a lot of drawdowns in there.
Charts make for good discussion, but they mostly serve as a record of the past. Set aside the shorts and market makers' games, and recognize not just the suppressed value in $Micron Technology(MU)$ relative to fundamental metrics, but also that the 30-year bond has put in a low and yields are heading lower. $cleveland-cliffs(CLF)$ earnings tomorrow should lift materials broadly, which would be a positive push for resource-linked names like MU. Friday was a bipolar capitulation moment driven by extreme fear. Super bullish Monday, and so far the bulls keep winning.
$Micron Technology(MU)$ If it doesn't happen tonight, we could easily see a strong green rally by tomorrow's close. Buying the dip and riding the move back up makes sense from where I stand. Tech is oversold in the short term while other sectors are still overbought, so money should rotate back into oversold tech soon.
$Micron Technology(MU)$ Picked up MU on the early dip and then watched it tick higher all day. Bulls held firm into the close. CPI is coming, but the bears might be running out of room here.
$Invesco QQQ(QQQ)$ $SPDR S&P 500 ETF Trust(SPY)$ Three data centers in Russia have been taken out by Ukraine. You can already tell the bots on social media are gone. There are several more data centers that could be targeted as well. Iran and the Houthis are also looking at data centers, and it was mentioned before that these are considered military targets. I'm being careful with long positions here. Ukraine will very likely finish wiping out all of these other data centers, and this war will escalate further. Elon Musk and Trump are not happy because there are less spots on their sites and the bots were in their favor. Interesting times to be alive.