The last cycle expansion phase or the euphoric stage, has already occurred between 2020 and 2021.
Sir John Templeton said: “Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria.”
Reference of Nasdaq:
E-mini Nasdaq-100 & Opt
Minimum fluctuation
0.25 index points = $5.00
Micro E-mini Nasdaq-100 Index & Opt
Minimum...
Micron Technology
Short Term - We look to Sell at 65.98 (stop at 69.58)
We look to sell rallies. Selling continued from the 61.8% pullback level of 85.74. Posted a Double Top formation. The formation has a measured move target of 46.09. Selling spikes offers good risk/reward.
Our profit targets will be 46.09 and 41.09
Resistance: 66.00 / 75.00 /...
Micron Technology
Short Term - We look to Buy at 66.22 (stop at 65.18)
We look to buy dips. Previous support located at 66.00. Although the anticipated move higher is corrective, it does offer ample risk/reward today. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 73.13 and...
Micron Technology
Short Term - We look to Buy at 66.27 (stop at 64.82)
Preferred trade is to buy on dips. Previous support located at 66.00. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Expect trading to remain mixed and volatile. Dips continue to attract buyers.
Our profit targets will be 71.40 and 74.49...
MU is within a rising wedge
Rising wedges are a bearish indicative pattern
I am suggesting a collapse down to a stronger area of support to manage this rising wedge
The other scenario is that this rising wedge breaks out to the bullish side, but for the consistency of chart pattern expertise we will stay with the bearish approach, which is considered appropriate.
US gov looks like it's going to raise the debt limit once again. This might serve to stabilize markets for the time being. I'm used to wathcing markets go up forever, I honestly don't know what's going to happen after big selloff like what we just saw.
New date to address debt limit is 12/22
Will the open MA's lead to an upward breakout out of the rising wedge?
Or will the technical patterns ( rising wedge ) favored outcome arise? Bearish .
Personally I'd follow the Technical Indicator's assessment
Price is beginning to show consolidation and range mentality. This could be a significant low reversal area in the bigger scope, but in the nearer term there is potential for a short push back. Normally, I would be looking for a move back to lows and potentially further but with the strength of the double bottom, I don't want to get caught getting stuck at the...
