In this morning market commentary (June 17, 2026), the presenter outlines the imminent Federal Reserve interest‑rate decision and retail‑sales release, emphasizing the expected volatility around the 2 PM Fed announcement. He then delivers detailed intraday technical analyses for two instruments: the SPDR S&P 500 ETF (SPY) and Micron Technology (MU). For SPY, he maps recent volume‑profile prints, exponential and simple moving averages (200 EMA, 200 SMA, 50 SMA), and key pivot levels, defining bullish zones above $754.50 with tiered price targets up to $763 and bearish zones below $748 with support down to $740.76. For MU, he highlights an unusually high average true range (~$81, ~8‑9% daily), recent large‑volume prints, and a range of bullish targets from $1,082.50 up to $1,231.19, as well as bearish support levels down to $740.76 (note: likely a transcription error, but he lists multiple lower levels). He concludes with a call for comments, a promise of tomorrow’s setups, and a sponsorship plug for Mobitick’s partnership with TrendSpider. The overall tone is instructional and analytical, with a cautiously optimistic sentiment toward the bullish scenarios while acknowledging risk.
Chapters
Good morning, traders. It's Wednesday, June 17th at 4:20 AM. All right, massive economic news today. We've got the Fed interest rate decision at 2 o'clock, then the economic projections as well, and the press conference at 2:30. And then 8:30 this morning we have retail sales. So anyway, put a vertical line on your chart for 2 o'clock, make sure you don't miss that one because there's some expected volatility there. All right, so I've got 2 stocks for you today. We've got And we've got MU. So let's go ahead and look at the SPY. We've got lots of prints; we always do. And so we've got this these prints at the top. We've pulled back. We had this low 3.8 million here back on June 11th, and we've moved up. We've pulled back, and we're holding this print here and testing the four exponential moving average. So let's see. We can get above 760. Then we're above all of the prints. And then we can definitely move higher. If we move below, say, um, maybe below the 738 level, then we can move down to 725. This is a 50 simple moving average down here. So anyway, lots of volatility. SPY is moving about $10 a day. So let's map this out intraday. We're going to be bullish above 754.50. Let's get above this these prints here. It looks like there's lots of space, but there's not a lot of room for profit taking. So as far as risk and reward is concerned, we've got my 200 simple, 200 exponential here. We've got the pivot that we're fighting with, and then as soon as we get above here, that's the 200 simple, and then you've got, uh, this cam right here, and then we've got prints and another pivot. So it looks like there's a lot of room, but there's noise in the way. So $754.50, target $755.89 is a cam Then we've got 757.02. Then we've got 757.44 is R2. 759.33, 760, 761.25, 763 is R3. So the upside, once we get above there, that would be pretty decent. Bears below 748. Let's get below here. Similar sort of thing. There's the post-market. We've got prints here about 8 million. We're fighting with the 200 exponential right now. So if we pull down and, and then we've got these cams here as well. So we've got to get below 748 because there's not enough room to take profit in between these for a good risk and reward. So bearish below 748, target 747.27, 746.32, 745.62 is that 3.9 million print we were talking about. Then we've got 744.77, 742.08, and 740.76 is this S3. So lots of room as long as we get out of the sandwich section. If we move up, we've got a plan. If we move down, we have a plan. So next up, MU. This one is a beast. Look at the ATR on this bad boy, a lot, uh, $81. So the average move is $81, which is about 8-9%. That it can move in a day. Largest trades in the last month, we can see here we've got a few million here at the bottom, and we've moved up more prints, moved up, pulled back through the prints, and it looks like they're accumulating, increasing volume. That was a good swing day as well, tagging the print, closing above, and we're back in this range right here. So let's see, this highest print here is $1,064.80. We're, we're just testing that now. If we can break above there, then we've got a nice move to the upside. If we get below here, then we can trade to these print levels here on the daily. So if we look on the intraday, we're going to be bullish above $1,082.50. Let's get above this candle, and then we need this R1 as support. So $1,082.50, target $1,090, $1,100, $1,1123 is a CAM. Then we've got 1125, 1140.79 is R2, 1150, 1175, which is the quarter. Then I've got 1200. I put that as the last stop. That's well beyond the ATR. That's about $118. But then there's R3 at 1231.19 if that's the case. So we're going to be bearish below 1064. And ah, we're just breaking below that, so we need a new level. I wanted to see if we broke below this print 1064. We'll leave it on the list for now and see. But other than that, 1050.39 is the pivot. Then we've got 1045.62, 1037.33, 1029.05. Then we've got $1,000, $1,247, $1,004, $1,995.99, $9,037, $9,710.04, and $9,599.99 is S2. So yeah, there you, there you have it for that one. We do wide levels, the, um, $12.50, $25 levels, things like that, because the stock is $1,000. So when the market trades In fractions as well on the higher-priced stocks, that works out the same as well. All right, happy trading everyone! Leave some comments in the comment section below, let us know how you're doing, and we will see you tomorrow with all new trade setups. Happy trading! Mobitick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
