Market Movers: Shorting & Longing Opportunities in Tech Stocks

Summary

The market is showing strength with the S&P 500 and QQQ heading higher, alongside stocks like Intel, Micron, and SanDisk. However, some like ARM are lagging. For QQQ, a rejection around $710 is expected based on previous support acting as resistance, though pullbacks are currently shallow. The S&P 500 has broken past a pivot top and bulls are in control, but a break below the uptrend line and recapturing a $72,487 pivot top would signal a potential sell-off. Intel could present a short opportunity above $120, with more aggressive traders eyeing $117.09. LIT is selling off, with support expected around $8.15. SanDisk is a potential short around $1,500, with more aggressive entry points between $1,475-$1,490. Micron is seen as a technical shorting level between $715 and $725. AET might offer a long entry around $133.70, with potential further drops to $126.22 and $116 if support breaks. Cloudflare's NET is down 25% after earnings, with support expected at $190.13 and $178.46. ARM is lagging but AMD has seen a push, with a long entry at $28.84 for today only, and a swing trade level at $175.49. Nvidia at $216.61 is a potential swing trade level, with a break above its uptrend line negating a bearish pattern. AMD's bulls are still in control, with the next resistance at $450, and a strong swing trade entry potentially at $500.