Market Analysis: Trade Setups and Key Levels Explained

Summary

US 10-year yields are a catalyst for market continuation, with a potential rise to 4.688% if resistance at the gap is broken. The S&P 500 shows a retest of a broken uptrend line and a potential shortable level around 7538, with resistance at 7538 and a target short entry at 7584. USO shows resistance at 140.92 and 149.32. SOXX, after finding support at 53.72, has shortable levels at 584.38 and a more conservative level at 62.72. ARM shows potential for a short around 380.55, with a swing short entry at 410.92. SanDisk is showing rejection at 1694.98, with day trade short levels at 1716 and 1759.05. CIEN broke a key uptrend line and has a swing shortable level at 619.82, or a more aggressive day trade short at 53.54. Nvidia presents a day trade short at 214.53, with a long play at 205.10. AVGO has a long at 386.65 and aggressive short levels at 410.50 and 420. OKLO has a potential long at 55.81. MU is showing bullish signs with a potential short swing trade at 99.60 and a day trade short at 179.89.