Happy Sunday! Hope everyone is having a good weekend. We’ll get into misc thoughts; internet sentiment + positioning round up; then get to the MU earnings preview below…
QQQs were flat but Semis underperformed as the rebal drove some winners down and losers up. While we wouldn’t be surprised to see a little more choppiness early in the week, our base case game plan continues to be rally into late July/Aug. We posted the chart below last week and the seasonal period of weakness which has been playing out is due to end right around Wed/Thurs.
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