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2026
Our
iBullyBear Mentoring
account achieved a new all-time Net Liq high
on strength in LITE, MU, CIEN, AMAT and other gainers on Thursday.
Improve trading results by employing a
systematic approach to decision-making in the face of uncertainty. If you want to improve your skills contact
us through the iBullyBear link above.
On
Wednesday, MU closed at 1065.11, then reported earnings after the close of EPS $33.42 beats
$31.45 estimate, Sales $54.229B beat
$50.751B estimate. Today, Thursday morning, after a lower open of $1054.08, MU fell
to a low of 1022.90 within the first hour before a reversal that led to a close
of 1097.39. Why a huge MU beat
and initially a lower price you ask?
We
teach iBullyBear members that “the stock market is efficient for liquidity, not for value or
price. It is the imbalances in supply
and demand that cause prices to fall or rise, not fair value or fair price.”
Did
you take advantage of that inefficient price this morning? We did and it paid off big.
SPX +14.91, 7,666 opened higher, sold off, reversed, rallied,
formed a long lower shadow before closing higher. Breadth improved as advancers
led the NYSE and decliners led by less than 100 issues on the NASDAQ
exchange. The NDX moved closer to
a resistance breakout. The SPX
since August 4 is in a sideways consolidation pattern.
RUT 2,806 rose +9.76,
a three-month low bounce, piercing line candle.
Oil /CL rose
+2.57 and
closed at 92.91.
SPX
advancers: ACN SNPS FICO COHR CIEN LITE MPC CDNS CDW VLO MCK.
SPX
decliners: PSKY MKC DHR INCY DIS AMGN TMO A KMB WAT APP.
SPY +1.36, +0.18%, above
average volume of 47.7 million shares, range day.
VIX +0.05, 16.39 rose slightly.
NDX +0.31% a bull flag bounce above the high of the low day,
price closed just below its June high, also a setup for a HBO to an all-time
high.
DJI, 50,926 +0.04%, a black
hammer candle.
Up: IWM, QQQ, SPY, DIA,
Down:
Mega caps MU, NVDA, TSM, AMD, BRK/B, META rose, and MSFT, TSLA, AMZN, LLY, AAPL, GOOGL, AVGO fell on Thursday.
SPCX closed at 148.07, -2.79, volume of 68.9 million shares. Our view is
that SPCX, with no earnings, remains an overvalued speculation.
IPO at 135 on June 12. In the end if
buyers are greater than sellers the stock will rise. People seem to be willing to speculate on
this company’s long-term fundamental future.
The SPY
MFC green line is flat
at 57.6,
price-action on Thursday is a bullish harami
intraday bounce, potential bull flag setup and is counter-trend
defensive. -0.7
Five
of eleven
sectors were higher on Thursday. XLK
+1.05%.
56
of 100
NDX stocks closed higher on Thursday.
42 NDX stocks are above their 30
DMA: MSTR, QCOM, AAPL, META,
AMD, INTC, CRWD, FTNT, PANW, ISRG, LITE, MRVL, PLTR, MU, NXPI, SNDK, ADI, ALAB,
NBIS, NVDA, STX, TER, TXN, DDOG, MPWR, MSFT, RKLB, WBD, ASML, MAR, KLAC, LRCX,
MCHP, SNPS, AMAT, CDNS, ROST, SPCX, CRWV, HON, WDC, FAST,
NDX Stocks to Watch on Friday
Moving Above 30 DMA = 1
FAST,
Moving Below 30 DMA = 4
AMGN,
GILD, GOOGL, LIN,
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