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MU (Micro Technologies) knocked the cover off the ball last night in its Earnings Report (see Seeking Alpha snippet below), which has goosed the stock 12.5% as we speak. My attached 4-Hour and Daily Charts indicate that MU needs to take out and close above 264.75 to trigger a higher projection to 295-300. In the absence of a close at new ATHs, MU's near-term setup argues for a range-bound period between 240 and 260. As long as any acute weakness is contained above 220, the bulls will remain in directional control... Last is 252.00 off of a post-Earnings spike high at 263.65...
In the modern market, few words carry as much weight as hyperscaler. It sounds technical, but the concept is simple: hyperscalers are the companies that own and operate the digital factories of the global economy. They build massive datacenters, fill them with servers and GPUs, and rent computing power to businesses, governments, and consumers worldwide. Microsoft sits squarely at the center of that group.Lyn Alden recently framed the AI landscape by dividing it into clear buckets: chip designers, pure-play AI labs, and hyperscalers.
With the market seemingly completing the wave iv of wave 3 in the bullish count with a pullback this morning to the 1.00 extension of waves 1-2, the market seems to be rallying in wave v of 3. The typical target for that wave degree is the 1.618 extension of waves 1-2, which is the 6915SPX region.However, with wave iv of 3 only pulling back to the 1.00 extension, it does open the door that we can see an extension in wave v of 3.
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