How To Trade SPY And Top Tech Stocks Ahead Of PMI Data

Good Morning Traders! In today’s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.

Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.

We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market’s pulse to optimize your trading gains. Now, let’s dive into the stock analysis:

SPDR S&P 500 ETF Trust (SPY)

SPY is currently trading near our critical level of 563.23. Bulls will aim to elevate prices initially toward 564.29, and maintaining solid momentum beyond this mark is essential for challenging the next resistance level at 565.38. Sustained bullish energy here could fuel an advance toward 566.46, with our ultimate bullish objective set at 567.81 for today’s session. 

If buyers fail to uphold the 563.23 mark, bearish activity is expected to target 561.90 initially. A further descent under persistent selling would then threaten 560.83, with intensified bearish momentum potentially driving prices down to robust support at 559.75. Should aggressive selling dominate today’s market, our downside target for SPY rests at 558.32.

Invesco QQQ Trust Series 1 (QQQ)

QQQ is actively trading around our pivotal level of 483.95. The bullish scenario hinges upon maintaining stability above this price, prompting a move upward to firmly establish 486.10 as new intraday support. Continued bullish momentum would then focus attention on 487.69, with sufficient strength likely prompting a bullish thrust toward 490.05, and an ambitious bullish target at 491.82 today. 

If bullish momentum falters below 483.95, bears will likely seize control and push the market lower toward initial support at 481.73. Sustained bearish pressure would then bring 479.03 into consideration, with a deeper sell-off expected to challenge 476.85. Failure at this critical support would trigger a move down toward our bearish low target of 474.66 for the session.

Apple Inc. (AAPL)

Apple is currently oscillating near the vital level of 203.48. Bulls need to defend this price strongly, encouraging a rally toward initial resistance at 204.33. Continued positive sentiment could subsequently drive the stock toward the key area at 205.54, ultimately aiming for today’s optimistic bullish goal at 206.55. 

If 203.48 fails as support, selling pressure should intensify and target lower support at 202.29. A deeper sell-side session would then expose additional downside potential toward 200.53, with a further breakdown setting the stage for bears to test 199.51. Significant bearish dominance would ultimately seek our low bearish target at 198.79.

Microsoft Corp. (MSFT)

Microsoft is presently trading around our focal point at 432.49. For bullish confidence to hold, we require consistent trading above this level, subsequently targeting 434.49 as reinforced support. Continuation of bullish activity could then open the pathway to 435.79, with strong buying ultimately placing today’s bullish objective at 437.10 firmly in view. 

If Microsoft cannot sustain above the 432.49 mark, we anticipate bearish momentum will target the immediate downside level at 431.25. Sustained weakness could encourage further selling toward 430.25, and if downward momentum escalates, 429.25 would become vulnerable. Under severe bearish sentiment, today’s low target for Microsoft rests at 428.48.

NVIDIA Corporation ( NVDA)

NVIDIA is trading around the central pivot level of 112.54. Bulls aim to drive the price upward, first reclaiming 113.68 as firm support. Continued bullish activity would encourage a push toward 114.29, and sustained upward momentum could further propel the price toward the target of 115.15. Our ultimate bullish goal today is set at 115.83. 

Conversely, failure to maintain the key 112.54 support opens NVIDIA to a downside exploration toward 111.70 initially. Further bearish engagement could test the strength at 110.73, with additional weakness extending the decline toward 109.86. Should bears gain decisive control, NVIDIA’s low bearish target today is positioned at 109.12.

Alphabet Inc Class A (GOOGL)

Alphabet currently trades near our reference level at 161.79. For a bullish session, maintaining this support is critical, which would encourage buyers to lift prices higher toward 163.79. Extended bullish momentum would enable an advance toward today’s optimistic bullish target, set at 165.41. 

Should buyers fail to defend 161.79, bears will likely push downward to initially test 160.36. A break below this point could significantly embolden sellers, intensifying downside pressure toward 158.54. Continued bearish dominance could ultimately drive prices to today’s bearish low target at 157.41.

Meta Platforms Inc (META)

Meta currently hovers around the significant support area of 591.29. Bulls seek to maintain price action solidly above this level, prompting an initial upside attempt toward 598.17. Persistent buying support would enhance bullish sentiment, setting sights on further upside at 604.50. Our high-end bullish target for today’s session is established at 609.30. 

Conversely, if Meta fails to hold 591.29 as robust support, we expect bears to aggressively target the lower boundary at 585.73. Persistent selling pressure would then open potential moves toward 580.17, and further weakness would expose today’s bearish low target, resting at 573.25.

Tesla Inc. (TSLA)

Tesla is trading near the strategic pivot of 286.34. Bullish momentum will initially focus on lifting prices toward 288.80, with sustained positive activity subsequently targeting the level at 290.47. Broader market bullishness could encourage an ascent to challenge 293.21, and if buying accelerates notably, the bullish high target of 294.60 comes firmly into view today. 

If Tesla fails to maintain support at 286.34, initial bearish targeting will be set toward 283.95. Further deterioration could stimulate an intensified decline toward the significant support at 281.32. A decisive bearish breakdown would then put the lower bearish objective at 279.43 into play.

Final Word: 

Today, market participants will closely monitor several critical economic reports, beginning with the release of the final April S&P Global Services PMI at 9:45 AM ET. At 10:00 AM ET, significant data points including the ISM Services Index, Prices Paid, New Orders, and Employment figures for April will be reported, which are expected to heavily influence intraday market sentiment. Additionally, the Treasury's 3-Year Note auction at 1:00 PM ET may provide further insights into current market conditions and investor risk appetite. 

However, the dominant focus remains on the upcoming FOMC interest rate announcement, where consensus anticipates the Federal Reserve maintaining current rate levels. Heightened attention will also persist around trade policy dynamics and tariff negotiations, as headline-driven volatility could swiftly reshape intraday trends. Exercise careful risk management and remain alert to rapid shifts in market sentiment throughout the trading session. Good luck and Happy Monday!

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