TRADE PLAN for Wednesday 📈
$S&P 500(.SPX)$ continues to trade in the same range the past 5 days above 7430. SPX needs through 7540 or under 7438 to see more momentum. This is week 5 of SPX trading under the all time highs at 7621.
$Micron Technology(MU)$ dropped 27% from the all time highs. If MU can form a base above 851 it can test 1000 again this month. MU above 1000 can move back to 1094,1168. MU under 851 can drop to 700.
$Meta Platforms, Inc.(META)$ closed up 16 on the day. As long as META Holds 600 we should see 628 again if the Mag 7 can rally higher. Calls can work above 620 for tomorrow.
$Invesco QQQ(QQQ)$ price action very weak today, If QQQ breaks 700.. the June lows at 686 can come again.
Be careful trading this week, the price action for chip stocks is not very bullish. Good luck everyone! 🫡
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