MU Micron opened high but closed low—I actually think this signal is more important than a rally. Pre-market funds rushed into oversold rebounds, but after the market opened, buying momentum didn’t sustain. This shows the market is still trading not on 'HBM demand recovery,' but on the rebalancing of high-valuation AI assets. A key stat: The Philadelphia Semiconductor Index has pulled back about 19% in the past month, but it’s still up roughly 68% year-to-date. This means the correction is deep, but the profit-taking is just as significant. Add to that the 10-year U.S. Treasury yield rising to around 4.56%, and high-valuation tech stocks are still facing valuation pressure. My take: Micron and SK Hynix haven’t hit the right-side reversal in the short term yet. Today’s high open and low close feels more like a rebound stress test. For now, I won’t chase the rebound—I’ll wait for volume to shrink, prices to stabilize, and a second retest that doesn’t break new lows before considering scaling in. The real bottom isn’t created by falling prices—it’s formed when selling pressure is fully exhausted.