TRADE PLAN for Wednesday 📈

EliteOptionsTrader
08-19 13:54

TRADE PLAN for Wednesday 📈

$S&P 500(.SPX)$ previous ATH at 7620 in play before a bottom forms. SPX gave up the 7700 support today after holding it for 9 days. Chip and memory stocks lead the move lower today as well.

$Invesco QQQ(QQQ)$ possible it fills the gap near 707 before a bottom forms too. IF it can't reclaim 722 tomorrow, we can see more downside as well. Let the market drop for now.

$Micron Technology(MU)$ needs a push back above 1000 to set up for 1250. We saw MU move from low 700's to 1035 in 3 weeks. Let's see if it can find a base above 900 this month.

$SanDisk Corp.(SNDK)$ ran from 998 to 1827. If it drops one more time to 1460, that's the buy area.

Tread lightly until we see chip and memory stocks start to get bought up again. Good luck tmrw everyone!! 🫡

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