Agreed. Five beats by MU with wider GPM%. Clear sign DRAM is stronger.
Likely Tech Earnings also are rising in general.
1 Beat would be good.... 2 Beats would be better.... 3 Beats and Revising Up the prior two months is STRONG.
"Stabilizing PC Business" is what is supporting the stronger revenue growth which is matches the company guidance.
Revenue increased 13% to $4.57 billion in line with the company’s estimate of $4.45 billion to $4.7 billion
Micron Technology, Inc. said its earnings surged as the memory-chip maker benefited from stronger sales and margins, as well as lower costs, during its quarter ended Dec. 4
Micron also supplies NAND flash memory chips, which are used in smartphones, digital cameras and tablets to store photos.
Three news items today Jan 4:
EBC large QE deployment rose recently to over 80% likely say Economists in Europe. ECB President Draghi gave the strongest readiness report to date last week. His credibility requires deployment of QE program, likely in January. (Financial Times news article today)
US Factories purposely delayed buying energy as their oil inventory fell, reports Bloomberg News, in order to buy oil later cheaper. US Manufacturing Profit will Rise in 1Q and on which will raise guidance as result.
(The news barely reported it)
VIX index fell below 50 tick support/resistance line in intraday 10 minute chart last Wednesday and Friday with technical confirmation by MACD and MoneyStream indicators.
Vast majority of Europe Economists now expected large scale QE deployment, reports Fin. Times of London.
Chancellor Gabriel in Germany is seeking Russia stability and closer negotiations.
Bloomberg News analysis discovered US factory report softness was due to intentional oil orders delay, even as oil stocks drained, in order to buy cheaper lager. This is net positive, will raise factory profit outlook.
VIX fell below support on Wednesday and further down on Friday below 50 tick line in the 10 minute chart.
its technicals such as money flow and macd fell further below resistance.
ECB Large Scale QE Expectations Rose to 80% European Economists (Financial Times) after Draghi's strongest readiness update last Friday.
US Manufacturing report's internal statistics showed the intentional "delayed energy buying" inventory shrinkage was to intentionally buy oil cheaper later........is Upside to 1Q Profit level of US Factories (Bloomberg News)
VIX-X rolled down below 50 tick line on 10 minute intraday chart on Friday as well as its technicals MACD Moneystream etc.
Friday the VIX-X fell 7.4% beneath 50 tick line support on 10 minute chart.
Bloomberg News reports that US Manufacturing report is actually a positive as "pause" was energy buying delay in order to buy energy cheaper soon, which will increase Factory Profits.
ECB Draghi Friday gave the strongest indication yet the ECB is preparing QE this month...viewed as must do to retain credibility and fight deflation.
Russell2000 at record high of last July on the new beneficial strong retail & energy tailwind.
This surpasses above July former high of the market. When AMD was 4.70/share.
If old fat slow Oracle can grow, Zhone can grow new deals and larger revenue stream growth through distributors. Definitely Buy Zhone at this oversold price level.
ZHNE Should be $3.50+
CNBC Cramer showed two charts:
Too many Put Option buying in crude oil future was extreme 5:1 Put:Call buying last Friday. Too many bears
Technical analyst Bob Lang likes the following 3 evidences:
(1) Several Years of Strong Stock Market during cheaper oil which drives Higher Profit (Higher Demand from Consumers; lower fuel cost; lower packaging cost)
Year.....Crude Oil....... SP500
(2) Velocity of decline had frightened people. When velocity disappears the confidence returns, and the market rallies.
(3) CBOE Volatility Ratio of 30 Days to 90Days: . the VIX to VXV
Whenever this ratio is over 1 it signals a major rally is begun. Every time it did this in 2014 the market rallied sharply. Yesterday Tuesday it went over 1. Today Wednesday it moved higher. The last 5 years the VIX has gone above VXV 14 times. One month afterward the SP has been up 12 of 14 times.
Medium-Term the SP500 should resume its climb higher as it has many other times.
Fed Announced Patience with"Same Outlook of Extended Period continued low rates.
S&P500 STRONGEST PRICE RISE Today of the year
Oracle ORCL +5% Afterhours..BEATS on Revenue +3%..Cloud Rev +45%..and Profit.
Tech Demand Growing first time this year
AK Steel +6% Afterhours...GUIDED UP Profit Expectations...Reported 37% Stronger Demand Quarter-to-Quarter from Consumer Autos & cheap fuel cost
VIX-X rolled over severely at Noon especially its Moneyflow indicator which went below its 50 tick moving average on the 30minute chart the rest of the day to finish moneyflow at its low of day. This level hasn't been seen since December 5th.
VIX-X Volatility is or has blown its top.
Capitulation Volume seen for EROC at quadruple the average number of daily shares traded.
XOM and BP capitulation seen at double the average number of shares were traded on an ugly day.