$MU Accumulation Schematic: Wyckoff Events and Phases

After a long downtrend MU bottomed out and began a period of accumulation.
It looks like MU is about to enter the mark up Phase E and start a new uptrend.

Besides the purely technical analysis, I want to point out that Micron Technology's business is a very cyclical one. About 60% of Micron Technology's revenue comes from DRAM, the rest comes from 'NAND'.The spot prices of DRAM seem to have bottomed out in May, as shown by the graph of the DXI (DRAMeXchange Index): chart.dramexchange.com/dxi.png


md: markdown
sc: selling climax
ar: automatic rally
st: secondary test
jac: jumping across the creek
buec: backup to edge of creek
sos: sign of strength
lps: last point of support
mu: markup