The market went nowhere ahead of CPI, but under the surface Meta set up a squeeze in its ideal formation, and the last one doubled the stock. I also cover Apple, our Dell fill, and why the dollar is the biggest thing standing between this market and higher prices.
Memory and semiconductor stocks led the pullback today, and I see that pullback as a buying opportunity ahead of earnings. I’m mapping the levels on MU, NVDA, TSM, and ASML, plus the cybersecurity names I want for a run at new highs.
Earnings season kicks off next week with the big banks and semiconductors reporting. The Nasdaq and S&P just made new all-time highs, pulled back, and buyers stepped right back in. I’m walking through $JPM, $GS, $ASML and $TSM and how I’m positioning to the long side.
The S&P 500 and Nasdaq just made new all-time highs, and two down days don’t change my bias. We’re in a positive gamma environment where dips get bought, and the call wall moved up to $7,900 right through the pullback. I also walk through Micron, Microsoft, Palo Alto Networks, and why oil looks great but I’m still not buying it.
The indexes left an island reversal up top today, but MU put in a very impressive candle in the memory space, and that tug of war could mean a couple of days of two-sided action. I also walk through XOM and Wayfair as runs into earnings, plus whether AAPL can hold $330 into Friday.
