SPY is coiling just under 60 RSI with a binary 755/745 close deciding the next sharp move. The video is rotated around semis, with MU breaking down toward 861 and maybe 800, while NVDA is expected to chop sideways into its Wednesday, August 26 earnings before a possible move back toward 236. The other core call is AAPL as the defensive relative-strength winner, with 317 already hit and 336 still in play after a golden-pocket bounce. A few single-name setups round it out: LLY was not in the notes, but NFLX earnings tonight is framed as a dip-buy, PFE is grinding higher toward 25.75, and CLS was a fast swing trade from 13.40 to nearly $15.
SPY is coiling just beneath 60 RSI and above the moving-average RSI, with a very strong move expected soon; a close above 755 is the breakout, a close below 745 is the breakdown.
MU flushed hard and hit the 861 target earlier today, then kept moving lower after that level.
MU is viewed as weak enough that semis are being sold while cash-flow-heavy defensives like AAPL are being bought.
MU’s 861 level is the key neckline for a bounce, but the stock has not bounced and is still pointing straight down.
MU’s nearer support area is around 800, where prior resistance is expected to turn into support if 861 fails to hold.
MU’s RSI framework flags 40 as the reversal tendency for strong stocks; below 40 is treated as capitulation territory, and MU is not seen as breaking down there yet.
MU is expected to keep consolidating while buyers wait for support, with the idea that it could bottom this week and be worth holding into 2027.
AAPL ran in an impulse from 245 to 317, then pulled back and bounced off the golden pocket, the highlighted Wall Street buying zone.
AAPL hit trend-based fib resistance at 336, and the expectation is for room higher to 336 even if red candles appear along the way.
NVDA bounced from a pivot low around 164 to 236, then trended down until it reached the golden pocket.
NVDA’s second touch of the golden pocket produced the stronger turn higher, but the stock is still expected to trade sideways into its later earnings date.
NVDA earnings are set for Wednesday, August 26, later than AAPL’s end-of-month earnings.
NVDA could still break out back toward 236 into earnings, but the base case is a lower low first and a rollover rather than an immediate advance.
NVDA’s local range is 209 to 189; price just hit 209, and if it cannot get above and hold that level, the expectation is a slide toward 189.
CLS was bought around 13.40 and ran to nearly $15 the next day as a swing-trade win.
PFE has been slowly climbing, then jumped to 25.30 today; the local target is 25.75 with a raised stop loss.
NFLX earnings are tonight, and any post-earnings dip is framed as a buy because sellers are expected to be exhausted after profit-taking and short-covering.