How To Trade SPY And Top Tech Stocks Today Using Technical Analysis

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 around the 565.38 level. For bulls to maintain control, we want to see strength carry the price toward 566.46. If that level is secured and momentum continues, buyers could aim to press the tape toward 567.81. Holding that area as a base during regular trading hours could open the door for a continuation higher toward 569.16. If bullish conviction persists, our upside objective for the day lands at 569.98. 

If SPY loses footing at 565.38, it places pressure on the bulls and could invite sellers to press toward 564.29. Should that level break down with heavy offers, 563.23 becomes the next line of defense. If the sell-side accelerates further, a deeper move toward 561.90 is expected. If that level also gives way, the broader target for the bears on the day would be a flush toward 560.83.

Invesco QQQ Trust Series 1 (QQQ)

QQQ is rotating around the key level of 487.69. Bulls want to see acceptance above 490.05 to confirm upward direction. Should that occur, buyers could drive the auction to 491.82 and look to establish it as a springboard for further upside. If momentum builds from there, the tape may push toward 493.60 and stretch up to test 495.35. Our high-side target for the bulls today is 496.94. 

If 487.69 doesn't hold and sellers step in, a retracement to 486.10 is likely. A breakdown through that level brings 483.95 into focus. Persistent selling could draw the auction down to 481.73, and if that level fails to attract demand, our bear target on the day stands at 479.03.

Apple Inc. (AAPL)

Apple is fluctuating near 197.69 to start the session. For the bulls to maintain control, price needs to stay supported above this area and begin pushing toward 198.22. If that level is reclaimed with force, we anticipate a move to 198.79. If buyers continue to show interest, Apple could climb into our higher-level target zone with 199.51 marking the top-side objective. 

If 197.69 fails to attract buyers, we'll be watching for a slide down to 197.00. If momentum shifts decisively toward the sell-side, the next support zone lies at 196.61. Should pressure persist below that, we anticipate a drop toward 196.01, with 195.67 as the final line for bears to challenge on the day.

Microsoft Corp. (MSFT)

Microsoft is auctioning around the 438.72 mark. Bulls will want to keep price above this level and drive it toward 441.34. If buyers can establish 441.34 as a base, we may see a follow-through move up to 442.95. If bullish activity is sustained throughout the session, our top target on the day for MSFT stands at 444.95. 

If MSFT slips below 438.72 and can't recover, we're watching for sellers to drag the price to 437.10. A continued breakdown could bring 435.79 into play, and if downward momentum persists, we're eyeing 434.49 as the next stop. The final downside target for the bears today sits at 432.49.

NVIDIA Corporation (NVDA)

NVIDIA is currently revolving near 117.86. For the bullish case to unfold, the market needs to push through 119.44 and convert it into solid support. If that happens, we anticipate buyers to drive the price higher toward 120.27. A continued push from there could open the gates for a rally to 121.97, with a stretch target on the day at 123.41. 

If 117.86 can't provide a platform for buyers, the auction may retreat toward 116.61. Weakness below this level would expose 115.83, and should that level break on heavy selling, we expect price to move toward 115.15. A strong bearish session may ultimately lead to a retest of 114.29, which is our low-side target.

Alphabet Inc Class A (GOOGL)

Alphabet is hovering around 154.44. Bulls will want to reclaim 154.95 and treat it as a platform to push toward 155.59. If upward momentum picks up from there, the tape could reach our upside objective for the session at 156.61. 

If 154.44 gives way and buyers do not show up, sellers could attempt to pull the price down to 153.93. If that level is breached, the next focus would be on 153.54. Sustained weakness may send the auction further south toward the low target for the day at 152.94.

Meta Platforms Inc (META)

Meta is trading near 604.50. Bulls want to maintain strength above 609.30 and convert it into firm support. If the buying continues, we could see the auction head up toward 615.65. Momentum beyond that could trigger a further rise to 622.01, with 629.88 acting as the day's high-side objective. 

Should 604.50 break down under pressure, a move toward 598.17 is likely. If that area is lost as well, the next support zone is at 591.29. Continued downward pressure could ultimately send the price toward 585.73, which is our bearish target for Meta on the session.

Tesla Inc. (TSLA)

Tesla is orbiting around 288.80. Buyers need to take control early and push price toward 290.47 to establish bullish momentum. If they succeed, the next upside target comes in at 293.21. With strength building from there, Tesla could stretch toward 294.60, and if enthusiasm continues, we see 296.44 as the top-end goal. 

If 288.80 can’t hold firm, expect sellers to challenge 286.34. A break below that support opens the door for a slide to 283.95. If no buyers step in there, we're watching for a move lower to 281.32, which completes the bear map for the session.

Final Word: 

While today's calendar lacks any major economic reports, multiple Federal Reserve members will be giving public remarks throughout the day, which could spark market volatility. At 8:00 AM ET, we’ll hear from voting member Kugler, followed by Barkin at 8:30 AM, Goolsbee at 10:00 AM, and a joint appearance from Waller and Williams at 11:30 AM. With the absence of hard economic data, traders should focus on interpreting the tone and language from these Fed speakers. Any unexpected commentary could drive sharp intraday moves. Be nimble, stay informed, and manage your risk heading into the weekend. Happy Friday!

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