Something Strange Is Happening at Micron Right Now?? ( SK hynix Amazon Broadcom Alphabet SPY
- What to look for
- In a single video, you can review support and resistance price levels and interpretations of short-, medium-, and long-term indicators for the Nasdaq100 and 12 securities, including QQQ and SPY.
- Why it matters
- Knowing the criteria for distinguishing a pullback from overbought levels from a break out of the prevailing trend can help you identify areas for responding during a correction based on chart indicators.
AI summary
The speaker recalls pointing out the possibility of a pullback before further gains because the short-, medium-, and long-term indicators on the Nasdaq100 chart with 4 hours per candle were all overbought, and notes that the Nasdaq actually fell 0.2% after 6 trading days. However, the speaker assesses that it has not left its uptrend and is positioned to rebound immediately if positive news emerges; a correction down to the lower line remains possible, but this is not a transition to a bear market. The speaker believes the upward trend will remain intact as long as QQQ does not break below 730 dollars and SPY does not break below 760 dollars, and says earnings trends also bear watching, with S&P500 earnings for quarter 3 expected to increase approximately 30.6% from the same period a year earlier. Amazon is rebounding after finding support at 255 dollars; Broadcom is setting up for another rise with support at 360 dollars and strength in its medium- and long-term indicators; Alphabet can trend upward if support holds at 320 and 340 dollars; and Constellation Energy, which signed a contract with Google, is positioned to rise even after a pullback because its long-term indicator has formed a golden cross. Micron rose 4% after its price target was raised from 2100 dollars to 3000 dollars and on forecasts that demand will exceed supply through 2028. However, the speaker identifies the union at its Taoyuan plant in Taiwan securing authorization to strike with 99% approval as a variable, and says holding 1040 dollars could take it to the upper boundary, while a break could bring a pullback to 890 dollars. Support at 1550 dollars for SanDisk and 178 dollars for the SK hynix ADR is crucial. The speaker explains that SpaceX retreated at resistance of 170 dollars amid news of financing worth 400 hundred-million dollars, and that the next support at 150 dollars needs to be checked. GE Vernova could head toward 1195 dollars if support at 870 dollars holds, while the speaker takes a holding perspective toward 320 dollars for Marvell with support at 235 dollars, concluding that the remaining stocks will be covered in part 2. All directional outlooks are the speaker's conditional assessments, not definitive short-term price predictions.