Macroeconomic Jitters And CPI AnticipationGeopolitical Tensions Settle On MarketsGeopolitical uncertainty further weighed on market sentiment after President Donald Trump ordered military strikes against Iran on Tuesday. The action followed the downing of a U.S. Apache helicopter near the Strait of Hormuz.Though Trump later told The Wall Street Journal the incident “wasn’t a big deal” because “the pilot is fine,” the conflict interrupted brief hopes for a ceasefire, shaking equity markets.Upcoming Index Inclusion Provides Long-Term BackstopThe decline follows a volatile period for the chipmaker. Last week, NVIDIA Corp CEO Jensen Huang publicly described Marvell as “the next trillion-dollar company,” driving the stock to record highs.Despite Wednesday’s retreat, a powerful technical catalyst remains on the horizon. S&P Dow Jones Indices announced that Marvell will join the S&P 500 Index on June 22.Marvell Technology Technical Levels To WatchMRVL is still in a powerful longer-term uptrend, up 287.68% over the past 12 months, and it remains well above its major moving averages. At $254.50, the stock is trading 15.6% above its 20-day SMA ($219.26) and 46.8% above its 50-day SMA ($172.61), which shows how extended the move has become.The trend structure also stays constructive: the 20-day SMA is above the 50-day SMA, and the 50-day SMA is above the 200-day SMA—consistent with the golden cross that formed in October 2025. That said, when price gets nearly 140.1% above the 200-day SMA ($105.56).