Key Trading Levels: Oil, Bonds, and Tech Stocks

Summary

With all eyes on US oil and the US 10-year Treasury, the market is poised for potential bounces and sell-offs based on specific technical levels. US oil is currently facing resistance around $79.01, while the US 10-year is showing resistance at $4.688, levels that, if hit simultaneously, could trigger a significant market rally. The SPY ETF saw resistance at $754.78 and found support near $750.37, with a potential upward move towards $759.66. Semiconductors, specifically the SOXX, are showing weakness with a potential measured move down to $411.78, although a bounce to $551.69 is a key support level. Microsoft presents an inverse head and shoulders pattern, suggesting a potential upside to $437 to $440 if a breakout occurs. ARM is seeing support around $290.45, with short opportunities emerging near $311 and $323.28. Marvell is looking for support at $219.43, with a swing trade short setup possible if it pulls back to $249.27. Nvidia is sideways, with short opportunities at $214.68. SanDisk may see a significant downside to $1,615.68 if it breaks below $1,700, while a short opportunity exists at $1,915.92. Micron is eyed for a long position at $891.88, with aggressive short levels at $948.80. LITE shows bullish momentum, with short resistance at $858.06. Oracle, despite being below some trend lines, remains a prime candidate for a swing trade long, especially near the gap support at $127.24. This detailed technical analysis offers valuable insights for traders looking to navigate these markets effectively.