Micron shares surge amid sharply higher revenue forecasts on AI-led memory demand
Last month in this space, my Monthly Macro Review/Preview had the monthly outlook suggesting the metals gold and copper would continue to consolidate along with Crude Oil, while Natural Gas pulled back from its recent highs. US Treasuries looked to continue their consolidation in the uptrend while the shorter term trend lower for the US Dollar Index would also continue. The Shanghai Composite, German DAX and Emerging Markets all looked to continue to move higher.
Volatility seemed happy to continue in the lower range between 15 and 22.25 with no major changes in sight, giving a tailwind to the equity markets. The Equity Index ETF’s SPY, IWM and QQQ were set up to continue higher in the coming months, with IWM the strongest followed by the QQQ and then the SPY bringing up the rear. How does an additional month impact the longer term picture? Let’s look at some charts.
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