Hello everyone, welcome back to the U.S. Stock Analysis Channel. I'm Lorder.

We maintain a wait-and-see stance on the broader market but are bullish on select tech stocks like Google and bearish on certain individual stocks like TRV. Market volatility driven by month-end and quarter-end rebalancing does not affect the overall picture. The current market structure is severely divided, with indices at high levels but the majority of individual stocks performing weakly. This episode focuses on technical and fundamental updates for memory chips, tech giants, and leading weight-loss drug stocks.

Looking back at the entire month of September, while the S&P 500 index only declined slightly, the performance divergence among individual stocks within the index was enormous. What has kept the index looking relatively decent is primarily the significant gains in the semiconductor sector over the past month. A noteworthy phenomenon is that market breadth indicators show the current situation—high index levels coexisting with widespread weakness in individual stocks—is the most divided it has been since the 2000 dot-com bubble. If you picked the wrong stocks in the past quarter, the investment experience would have been quite poor.

Next, let's look at the situation with specific stocks.

First, let's talk about memory chips. Micron Technology MU's price action has been steady post-earnings, with the technical structure pointing toward previous highs. Key support levels are at 1030, 992, and 858, with 858 being the critical line for a definitive bearish turn. Another memory chip stock, SNDK, is in a structurally higher position than Micron, technically also looking toward previous highs, but it presents greater operational difficulty. Key support levels are at 1704 and 1650.

On the tech front, Google GOOGL is not considered expensive from a long-term perspective and is currently in a short-term correction. Its valuation is seen as more attractive than Microsoft MSFT and Meta META, and a potential rally could start soon.

For the weight-loss drug leader Eli Lilly LLY, we are optimistic about its industry prospects. The current critical support zone is between 1000 and 1080, which is a very strong support area and can be seen as a watershed. A break below 1000 could signal a downward revision in the market's long-term growth expectations for the company, with the next target below 928.

Finally, TRV. This stock has already begun a bearish trend and could experience a stair-step decline. Investors with heavy positions should be mindful of the risk.

The market faces structural risks, with high index levels coexisting with weakness in the majority of stocks. It remains questionable whether this historically rare divergence can be reversed. Regarding individual stock volatility risk, memory chip stocks like Micron MU and SNDK can experience significant price swings and are difficult to trade. Risks from changes in fundamental expectations also warrant caution; for instance, forward earnings for cyclical stocks like Micron can change dramatically. A break below key levels for Eli Lilly LLY could signal an expectation downgrade. Furthermore, economic data like the PCE, which came in significantly below expectations due to methodological changes, could disrupt market judgments about Federal Reserve policy, requiring attention to subsequent data releases. Finally, a reminder to be aware of the risks associated with concentrated positions in technology stocks.

Alright, that's all for today's episode. The market's movement was relatively muted on the final day of the month and quarter. We continue to wait for impetus from other data points this week. We'll see you again at the same time tomorrow.