STX bounced off $700 and may see a couple more days of upside, but I still expect more downside after that, with a likely retrace to $860 and a rejection there; the 618 fib has not been hit and likely still needs to be, and Toshiba's market-share encroachment remains a future headwind.

Where's STX finishing off the lows and at the highs? Goodness gracious, this uh stock had a huge drop this morning, piercing $700, now finishing up here at $747. Let me draw one simple tool to illustrate why price action came down and did what it did.

Guys, you can see here and it's the fib retracement. Now, let me get all the fibs in here and illustrate that one. I'm sitting here waiting. Yes. All right. Hey, you said it was going to hit, but guess what?

Sometimes they don't instead. Look at this. The $700 psychological whole round number. So when you take into these um elements into effect guys, we've got fib retraces obviously didn't g didn't get down to that level today.

Didn't get quite oversold. Received a fantastic bounce. One that I think like I've pointed out on the SMH could lead into a couple more days of upside something on STX. What would happen in that scenario?

We've had a breakdown. Have not yet had a retrace from this parallel. We likely will retrace. Look at X marks the spot. $860. And then the fade play comes in because guys, this 618 has not been hit yet.

It likely still will need to get hit in the future. Now, Toshiba news incur encroaching on the market share of STX. That's likely going to continue to be a headwind in the future.

So, I still though anticipate more downside with XTX after a little bit of near-term upside right into X marks the spot and a rejection from that location.