What will happen after the US stock market plunges?
As I mentioned in yesterday’s live stream, both Japanese and Korean stock markets hit new highs, so logically there is a need for fresh highs for the Nasdaq and S&P 500 as well. Therefore, this correction can still be seen as a buy-the-dip opportunity.
Recently, whether it’s in the live broadcast room, on my WeChat official account, or even in YouTube videos, the main stocks I keep recommending are the storage chip concept stocks.
No matter if you bought the dip during early market divergence yesterday or bought into weakness at the close, today could be another day of big profits, as long as there is no late-afternoon sell-off from the Korean market today.
During the live broadcast yesterday, I deliberately shared my trading record to explain why I dipped into WDC the day before; yesterday, WDC did not disappoint and continued to make new highs.
The focus for the US stock market today is still on storage chips! If you’ve been learning through the live stream recently, you may have noticed that MU is showing more strength compared to SNDK.
Short-term trading is all about identifying the market leader and shifting from weak to strong names—the money-making opportunities in follower stocks exist, but they tend to be smaller in a similar rebound situation.
MU will announce its earnings report after hours on the 24th. For this round of storage chip concept stocks or other tech names, my suggestion is to hold until at least the 24th, unless MU continues to rally after earnings.
In summary, I expect a rebound in US equities today, with the strength of the bounce depending on how strong the rally in storage chips is. However, for both the chip sector and the indices, the likely trend ahead is still a zigzag rebound pattern.
Therefore, if you’re trading short-term, be sure to pay attention to entry timing; try not to chase at highs, and if you encounter resistance or intraday weakness, consider taking profits, especially with a three-day holiday coming up.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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