TMAD Update: Micron Earnings and SPX Critical Level

$M $MU $SPX

Hi traders,

The market is still very choppy. It's fine to sit on your hands. We are on 50DMA, and thankfully, Micron Technology MU 0.00%↑ delivered record fiscal Q3 2026 results, reporting revenue of $41.46 billion and non-GAAP EPS of $25.11, with non-GAAP gross margin reaching 84.9%, driven by surging AI demand for high-bandwidth memory (HBM), DRAM, and NAND.

The company issued strong Q4 guidance of ~$50 billion in revenue (±$1B) and non-GAAP EPS of ~$31, with expected gross margin of ~86%, reflecting robust AI-driven growth and multi-year customer agreements.

We’re bouncing a little bit now, but in order to break out from the chop, we have some important levels to cross.

Let’s look into it and trade for the day.