Good Morning Traders!
Today brings another quiet economic session with few major data releases. The Treasury's 20-Year Bond Auction at 1 PM Eastern will attract attention from fixed income markets but is unlikely to meaningfully impact equities unless yields move sharply.
Fed Governor Michael Barr is the only scheduled speaker, discussing financial inclusion at a St. Louis Fed conference. While the topic itself is not policy-oriented, traders may still listen for any offhand remarks about the economy or interest rate outlook.
With a light data backdrop, price action is expected to remain reactive to headlines and institutional order flow. Stay cautious, trade levels with precision, and be prepared for occasional spikes in volatility as the market continues to drift in anticipation of Friday's CPI report.
Now, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
SPDR S&P 500 ETF Trust (SPY)
SPY opens at 672.25, with buyers aiming to maintain control after a strong start to the week. A move higher could carry price into 673.45 and 674.70, with sustained strength driving toward 675.90. If momentum builds, SPY could extend into 677.10 and 678.35. Each advance would reinforce the idea that buyers are still comfortable pressing the upside in a low-data environment.
If SPY loses 672.25, sellers may test 670.95. A breakdown here could lead to 669.70 and 668.45, with deeper pressure carrying into 667.15. If weakness persists, SPY may slide toward 665.90 before stabilizing. These levels highlight whether the market is simply digesting recent gains or beginning to show signs of exhaustion ahead of Thursday's positioning shifts.
Invesco QQQ Trust Series 1 (QQQ)
QQQ starts the day at 611.25, and bulls will look to defend this level to keep momentum alive. A push higher could send price into 612.35 and 613.45, with follow-through potentially lifting toward 614.55. If buyers remain steady, QQQ may climb into 615.70 and 616.85. Each move higher would confirm that tech remains the market's anchor despite thin data flow.
If QQQ fails to hold 611.25, sellers may look to test 610.05. A break below here exposes 608.85 and 607.65, with heavier selling potentially driving price toward 606.45. If pressure increases, the index could test 605.25 before bouncing. These levels define the near-term risk zones as traders navigate headline-driven volatility.
Apple Inc. (AAPL)
Apple opens at 260.75, where buyers are attempting to maintain control after reclaiming higher ground. A rise above this level could carry price into 261.70 and 262.65, with further strength lifting into 263.60. If momentum persists, Apple could reach 264.55 and 265.45. Each step higher demonstrates continued confidence in the stock's role as a market stabilizer.
If Apple loses 260.75, sellers may press toward 259.80. A drop below this point opens the path to 258.85 and 257.90, with deeper weakness driving toward 256.95. If downside momentum builds, the stock could slide into 256.00 before finding a base. These levels will reveal whether Apple's recent resilience is sustainable in quieter trading conditions.
Microsoft Corp. (MSFT)
Microsoft begins the session at 518.75, where bulls will look to maintain composure after several steady sessions. A move above here could lift price into 519.95 and 521.10, with continued buying strength carrying into 522.25. If momentum builds, MSFT could extend into 523.40 and 524.55. Each higher level reinforces steady institutional support across the tech sector.
If MSFT breaks below 518.75, sellers may aim for 517.55. A break lower opens the path to 516.35 and 515.10, with heavier pressure driving into 513.85. If weakness expands, the stock may reach 512.65 before stabilizing. These levels will determine whether Microsoft continues to act as a defensive anchor or if traders begin taking profits near recent highs.
NVIDIA Corporation (NVDA)
NVIDIA opens at 181.75, where bulls are hoping to establish footing after a quiet stretch. A push higher could send price into 182.85 and 183.90, with additional momentum lifting toward 184.95. If strength continues, NVDA may advance into 186.05 and 187.10. Each advance signals that traders are willing to accumulate shares despite muted macro activity.
If NVDA falls below 181.75, sellers may test 180.70. A break here could bring 179.60 and 178.50 into play, with further weakness targeting 177.45. If pressure intensifies, the stock may slide to 176.35 before rebounding. These levels define the zones where semiconductor sentiment could shift from consolidation to potential downside exploration.
Alphabet Inc Class A (GOOGL)
Alphabet starts the morning at 255.75, with bulls looking to sustain the recent positive structure. A move above could lift price into 256.70 and 257.60, with continued progress taking it toward 258.55. If strength persists, GOOGL may push into 259.45 and 260.35. Each leg higher would reinforce consistent buying interest in communication stocks during slower weeks.
If GOOGL drops below 255.75, sellers may push toward 254.80. A breakdown there could drive price into 253.85 and 252.90, with deeper pressure carrying into 251.95. If selling continues, GOOGL may test 250.95 before stabilizing. These levels outline the key range where short-term traders may look to fade volatility spikes.
Meta Platforms Inc (META)
Meta opens at 735.00, where buyers will look to defend the stock's higher base. A move above this level could bring price into 737.10 and 739.20, with continued strength extending into 741.30. If buyers remain firm, META could stretch into 743.40 and 745.55. Each upward move suggests confidence in large-cap tech despite thin market participation.
If META loses 735.00, sellers may target 732.85. A drop through here could open the door to 730.70 and 728.60, with heavier pressure driving into 726.45. If weakness persists, price may fall toward 724.35 before recovering. These levels will help define whether META's strong run continues or begins to consolidate into week's end.
Tesla Inc. (TSLA)
Tesla begins the day at 443.50, and bulls will look to stabilize following mixed performance in recent sessions. A lift above here could drive price into 445.10 and 446.70, with additional momentum carrying into 448.25. If strength continues, Tesla may test 449.85 and 451.40. Each push higher would show renewed buying interest in the name after last week's tight trading range.
If Tesla breaks below 443.50, sellers may test 441.90. A move under this zone could send the stock toward 440.35 and 438.75, with heavier selling extending into 437.20. If pressure builds, Tesla could dip toward 435.60 before stabilizing. These levels will indicate whether the current consolidation phase is setting up for accumulation or further downside.
Final Word: Good luck and trade safely!
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
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