Morning everyone. I'm sure plenty of people are surprised by the market move this morning, but should we really be? I've made a few posts over the last 2-3 weeks pointing out how price just doesn't seem to budge lower. There's been a lot of strength even while the indexes have stayed flat. With everything going on in the headlines, you'd think markets would be down 5-10%, but instead they're flat to up. That's the power of price action. Can't really have a bias in trading, we just have to respect price. Should be a very interesting week. Stay nimble, stay light, and focus on quality setups. Let's trade well. $SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$
$SK hynix(SKHY)$ $Micron Technology(MU)$ Kospi is doing that straight-up move again, up 180 points. SK is up 5.7%. I hope Europe doesn't let us down — Asia is doing a solid job bidding stocks higher.
$SpaceX(SPCX)$ This has been boxed in between 142.50 and 155 for the past 10 days, but it recently poked above 155 briefly before getting pulled right back inside that level. I'm keeping the 142.50 to 155 range as my framework for now, unless it can close above 155.
$Dell Technologies Inc.(DELL)$ Were the people shorting in the 570s convinced that was the top? The AI slowdown fears pulled in a lot of shorts. The quick recovery that followed looked like Wall Street isn't really focused on those concerns, and is more interested in pushing this stock higher.
$SpaceX(SPCX)$ This looks like an excellent time to start accumulating some SPCX. Data center revenue is booming, Starlink revenue is booming, and Grok bot revenue is booming. Starship launches are accelerating. AI data centers in space. There's so much happening at SpaceX right now it's not even funny.