June 24, 2026

Markets:

S&P 500 futures rose on Wednesday after technology stocks rebounded in premarket trade, with investors looking ahead to the release of Micron Technology’s earnings after the bell.

Shares of Micron rose almost 4% in premarket trading, and Sandisk was up nearly 3%. The two memory stocks tumbled 13% in the previous session. The Roundhill Memory ETF (DRAM), down 14% on Tuesday, moved 3% higher in premarket trade.

Micron will report its latest earnings after the market closes on Wednesday. Analysts polled by FactSet see earnings of $20.83 per share on revenue of $35.75 billion.

Wednesday’s premarket moves come after a rout in the technology sector dragged the S&P 500 and tech-heavy Nasdaq Composite lower on Tuesday, with the averages losing 1.44% and 2.21%, respectively. The blue-chip Dow Jones Industrial Average shed 45.87 points, or 0.09%.

Investors sold off semiconductor-adjacent stocks in Tuesday’s session, with the VanEck Semiconductor ETF (SMH) ending the day 7% lower.

Asia-Pacific markets closed mixed as regional technology rebounded after Wall Street’s sell-off. Japan’s Nikkei 225 declined 0.88% to 69,174.97, while South Korea’s Kospi jumped more than 3% in volatile trading to 8,471.02, recovering from a 10% decline on Tuesday.

Portfolio:

We enter today’s session holding positions in CRDU, PENG, and RXT.

The focus remains on MU today and tomorrow. Earnings will be the key catalyst, but before that plays out, we continue to focus on the broader market trend and important technical levels.

QQQ:
The first order of business today is reclaiming and holding above yesterday’s high (PDH) at 723. A move above that level gives the market a chance to work back toward a gap fill at 735. Key support to watch today is 712.

SPY:
We want to see SPY hold the 733–730 support zone. The bigger picture remains unchanged — we still believe the market has more upside ahead, and we continue to see 800 before 700.

Today is about patience. They shook the tree yesterday and flushed out weaker hands. Now we allow the next trend to develop and look for the right opportunities to attack.

Nothing has changed with our summer outlook. The opportunity remains ahead. Stay ready.