$SPDR S&P 500 ETF Trust(SPY)$ It closed above the FLITMOIA - Fat Line In The Middle Of It All. For now that keeps the setup intact, and I'm fairly optimistic about at least a spike toward 774.90. I'm going to add the Woofer.
$SPDR S&P 500 ETF Trust(SPY)$ 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.