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MU Soars 9%! CPI Fallout & Crucial ES/NQ Levels for Open
Season 2
Episode 41
Published 6 months, 3 weeks ago
Description
Here is the trade setup for the open. Inflation heats up after CPI, creating a mixed market awaiting clarity. Don't get caught in a liquidity trap!
🚀 Stocks to Watch:
🚀 Micron (MU): +9% on huge earnings & outlook.
🔔 Lululemon (LULU): +4.5% after Elliott Management's $1B+ stake.
📈 Western Digital (WDC): +3% riding semi sentiment.
⚠️ Vision Marine (VMAR): -32% after dilution from public offering.
📈 The Levels:
S&P 500 (/ES) Resistance: 6875-6877. Support: 6765-6778.
Nasdaq (/NQ) Resistance: 26000. Support: 23950 (Head & Shoulders formation).
Macro: Hot CPI data, 10-Year Yield at 4.15%, and a rising DXY signal headwinds for growth. The "pain trade" for tech is real. Wait for confirmation. Trade smart!