The price action on both $ServiceNow(NOW)$ and $Micron Technology(MU)$ right now shows you exactly how much fast money is sloshing around tech. ServiceNow has put together a quiet relief bounce back to 107.93 after getting completely decimated down to the 89 range at the end of June. It is a decent recovery, but with their earnings coming up on July 22, the room to run before the print is getting tight. Meanwhile, Micron is trying to find its feet around 984.75. It is a massive comedown from the 1213 peak it printed right after its spectacular earnings report a couple of weeks ago. If you are looking to chase either of these right here, you are playing with fire. I am keeping my hands in my pockets and letting both charts build a real, multi-day base before I put fresh capital into the mix.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
