For Immediate Release
Chicago, IL – July 30, 2026 – Today, Zacks Investment Ideas feature highlights Nasdaq 100 Index ETF QQQ and Micron MU.
Navigating South Korea’s AI-Driven Volatility
The Nasdaq 100 Index ETF just suffered its first correction (defined as a 10% drawdown from highs) since March and its second of 2026. Below are things to watch for to identify a potential bottom.
Price Action Versus News
“The stock market is never obvious. It is designed to fool most of the people, most of the time.” ~ Jesse Livermore
As the old Wall Street adage goes, “If the stock market were easy, everyone would be rich.” However, Wall Street is rarely what it seems on the surface. Although fundamentals drive markets, they are useless without the context of price action. Stanley Druckenmiller, who managed money for more than 30 years and never suffered a down year, explains this concept the best:
“So, the technical provides a discipline on the fundamental and the fundamental provides a discipline on the technical. We’re constantly following the news. We’re following the fundamentals and also the price action.” ~ Stanley Druckenmiller
What I have discovered throughout my investing career is that stocks and markets tend to top when news seems most bullish and bottom when the news seems the most bearish.
Micron Tops on Blowout Earnings Report
In late June, AI leader Micron reported earnings that blew past Wall Street estimates. In fact, Micron management said that it expects to generate more EPS in 2026 than it has in the past decade. Revenue grew an eye-popping 346% YoY to a record $41.46 billion. Additionally, the company secured 16 strategic agreements worth a minimum of $100 billion.
South Korea: Time to Buy the Dip?
The South Korean stock market has been a phenomenal two-way trade for market timers. However, buying the KOSPI extended or shorting it in the hole has been suicide. EWY is currently working on its 5th consecutive red week and has plunged from $220 to below $150. Finally, the stars are aligning for a dip buy EWY for the following reasons:
EWY is Approaching a Technical Confluence Zone
EWY is retreating to the 40-week moving average and the April ignition zone. Typically, confluence areas of this nature offer investors high reward-to-risk buys.
The AI Supercycle is Not Slowing
SK Hynix and Samsung command the vast majority of the global High-Bandwidth Memory market. Although the price action in these names has been wild, demand for HBM remains firm amid global shortages.
South Korea Announces Plans to Stabilize Markets