An upgrade for Apple and earnings surprise by Micron reversed the market negativity. Strange things do happen from time to time and today was one of them. The major indexes reversed from a sharply negative decline in futures to surge back to 5-month highs in the case of the S&P and Nasdaq.
Apple rose after Needham upgraded the stock to strong buy citing "value upside" in their ecosystem as the release a string of new products. Apple shares rose $7 to add 27 points to the Nasdaq. Micron guided higher for the second half of the year and shares rose nearly 10%. This invigorated investors and it was a rush to cover shorts and chase prices.
New positions are only added on Wednesday and Saturday except in special circumstances.
NEW DIRECTIONAL CALL PLAYS
No New Bullish Plays
NEW DIRECTIONAL PUT PLAYS
No New Bearish Plays