Micron and SanDisk are currently trading within a range. We’ll watch and wait, making no changes. The easiest mistake to make in a range-bound market is chasing highs and selling lows: chasing upward can run into selling pressure at the top of the range, while chasing downward risks running into buying support at the bottom. Bulls and bears are repeatedly locked in a tug-of-war at current price levels. Until the stalemate breaks, any impulsive entry is very likely to get whipsawed.
We’ll stick with this morning’s plan and patiently wait for the market to make its move.