MU's breakout is likely to persist as the prior 30% correction and time-based consolidation are complete; technical indicators suggest the downtrend has ended.

My Micron move right now, or maybe we're just talking specifically about Micron, or if you see something else in the memory sector or DRAM that you think is slightly better. But we have just broken away from the 50 on the daily chart.

We have broken through that level of 1000. It is strange, because we opened with an upside and today we are actually seeing a pullback. But is this a false move? Is this a real breakout back to the highs? What are your thoughts on this?

I think it is a breakout that could persist, and if we look at the daily chart, the main reason for that is that we first corrected by about 30% in terms of price and then moved sideways and corrected over time over the past month and a half .

Now we have this movement here. It has expanded a bit over the past 3 days, and that is actually a good sign.

Because if we start to fall back a little, like we are doing now, well, where were we 50 days ago? I always talk about it: we are not only above the 50-day moving average ( that is that blue dotted line), but what is the direction of that 50?

And you can see that it is bending downwards, and it will continue to bend downwards for at least the rest of the week . So, this was So , this was 50 days ago. So, tomorrow this will drop out and it will be averaged with the data from here.

In other words, that 50-day moving average will continue to fall for about another 3 or 4 days . And then it will start to level off and rise.

If we see over the next 3 to 4 days that this market might not—let's say an 'inside day' tomorrow, pulls back a day, pulls back another day, and in a few days we are sitting around this 5-day moving average—then I think that forms a higher low ; And from there, we break above this level and head to record highs.

Either it fails completely, but we are at a pretty critical point because we have the rising 20-day average above what will be a rising 50-day average in a few days , and above a rising 200-day moving average.

That tells me that the correction is over. The buyers have the chance to really take control and really mean it this time. It was not significant here because we still had that declining 50-day average.