MU Sparks the Rally — Now What?
by Tony Rago
Micron’s earnings did exactly what bulls were hoping for — a big beat that lifted sentiment across the board and helped push the indexes higher overnight. The reaction reinforces the theme that has been driving this market for months: AI and semiconductors continue to be the engine under the hood. The question now is whether the market can build on that momentum once the cash session opens. ES still has unfinished business at the 7,500 level, while NQ is running into resistance near 30,250. Those areas should tell us quickly whether buyers are ready to extend the move or if some profit-taking shows up after the initial excitement.
What I’ll be watching closely is any retracement that gets bought. On NQ, the halfway-back level sits at 29,833, while ES has a similar checkpoint around 7,450. If this rally is real and buyers remain in control, those pullback zones should attract demand. More importantly, bulls need to defend the pre-market lows and reclaim yesterday’s highs to keep momentum moving in their favor. If they fail to do that, this could simply become another short-term squeeze rather than the start of a larger breakout. Keep it simple, trust the levels, and let price tell the story.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
– Tony
