Lesson of the week: None of the 3 downside scenarios I flagged this week played out. Bullet dodged, for now :)
→ 10-year yield: risk was a move above 5.15%; it hit 5.17% intraday and closed at 5.14%
→ Chip index: risk was a close below 9,800; it fell to 9,829 and closed at 10,146
→ Micron: risk was a drop below $725; it fell to $750 and closed at $778
I think two of those risks were dodged by a hair, so it's too early to relax.
Worst case: if yields close above 5.17%, the chip index tests 9,800 on a closing basis this time. That's what I'm watching.
#Stocks #AI
Watching: $MU $SMH $QQQ
→ 10-year yield: risk was a move above 5.15%; it hit 5.17% intraday and closed at 5.14%
→ Chip index: risk was a close below 9,800; it fell to 9,829 and closed at 10,146
→ Micron: risk was a drop below $725; it fell to $750 and closed at $778
I think two of those risks were dodged by a hair, so it's too early to relax.
Worst case: if yields close above 5.17%, the chip index tests 9,800 on a closing basis this time. That's what I'm watching.
#Stocks #AI
Watching: $MU $SMH $QQQ
