Micron Banned in China – So I’m Watching These Levels


SPY cleared $412.87 to see $420.72 Friday. We did well trading for that. Now we’ll see how it tries to digest above $417.35 or if it hits $415 which must hold.

QQQ: tech will get tested today after China banned MU memory chips. See how this affects other semi names like AMD and NVDA. See how AAPL handles the early morning weakness. $335.43 is Friday's low. The must-hold area is closer to $332.

MU is in the news with China wanting to ban their memory chips. We'll see how this plays out the next day or so. See if it holds the $64 area and puts in a low in the first 5-15-30 minutes. Or does it really get pressured? I'd watch it for sentiment.

AAPL will be interesting today because of the MU ban in China. If things escalate, AAPL could be a target. We'll see if it holds the $173 area or if they shake the tree lower. I still have some stock, but I sold my options Friday for a nice gain.

AMD had a big move from the $91ish targeted buy area up to $108+. Now see if it can reclaim $104.62 to relieve pressure, or if we see the 8 day closer to the $101.50 area.

NVDA has been the best barometer for risk in tech and it’s been full of nice setups to reward traders. For today, see if it can reclaim $309.16 or if it sees a move down towards the 8 day closer to $306.

MSFT had a big-time pre and post-earnings move. I did sell mine as it hit $319+. It's a little extended, but as long as the 8day holds, some active traders will stay long. Friday's low is $316ish.

TSLA was a focus last Wednesday. It was Musk's first interview in a while. We did get long stock and options near $169.76. It's acted well since to stay with it. It hit $181.95 Friday to manage. As long as we hold the $177ish area, maybe this starts a better active sequence.

Scott Redler Positions Disclosure as of 2023-05-22 at 8.45.40 AM

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