How To Trade SPY And Top Tech Stocks 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)

The SPY is currently trading around our crucial pivot at 587.31. For a bullish scenario, buyers must drive the price upward toward 589.71 initially. A strong hold above this mark could see bullish momentum pushing further to the significant support area at 592.00. Sustained bullish control above 592.00 during the session might propel prices upward to test the higher level at 593.73. Our ultimate bullish target for today on SPY sits at 595.14. 

If the price fails to sustain above the pivotal 587.31, bearish traders will likely step in aggressively toward 585.75. Should selling pressure intensify, we expect a downward push toward 584.68. Breaking through this support convincingly may trigger further declines toward the next major level at 583.18. If market sentiment deteriorates significantly, bears will aim for today’s ultimate downside target at 581.97.

Invesco QQQ Trust Series 1 (QQQ)

The Q’s are currently fluctuating near our significant level at 513.64. To achieve bullish momentum, buyers must decisively keep the price above this point. Successful support here can encourage buyers to lift the market toward the critical 515.00 level. If bullish energy continues uninterrupted, we anticipate further upside moves toward the stronger resistance at 516.58. Under strong bullish conditions, today’s high upside goal for QQQ is marked at 518.65. 

Should prices falter at 513.64 during the session, bears will attempt to dominate and swiftly push prices downward toward the immediate level at 511.53. Persistent bearish pressure could result in a deeper decline to test the strength at 509.87. Continued seller momentum may extend losses further toward 508.22. A breakdown below this critical support sets up a test of today’s low bearish target at 506.68.

Apple Inc. (AAPL)

Apple is presently trading near our key area at 207.93. Bulls will first aim to solidify support slightly higher at 208.81. Successfully holding this mark can fuel a bullish rally towards the next significant upside area at 209.81. Continued buying strength throughout today’s session could further lift prices toward the prominent resistance at 211.12. If buyers remain firmly in control, our ultimate bullish objective for Apple today lies at 212.44. 

If support at 207.93 is compromised during trading, bears will quickly target the downside, first probing at 207.18. Increased selling could lead to further deterioration toward the next downside support at 206.55. If bearish sentiment intensifies, traders will be eyeing the crucial support at 205.54. A breakdown here will likely push prices toward our lowest bearish target for Apple today at 204.33.

Microsoft Corp. (MSFT)

Microsoft is currently positioned around our significant point at 450.26. Bulls must first confirm stability above 453.02, creating favorable conditions for a push upward toward the higher support at 455.77. Consistent buying strength above this point could propel the price higher to test the next resistance area at 457.25. Under continued bullish momentum, the session’s ultimate bullish goal for Microsoft is situated at 459.18. 

Should the market fail to hold support at 450.26, sellers will aggressively target downside levels, initially pressing prices toward 448.18. If selling intensifies, the next area for bearish exploration will be 446.33. Sustained downward pressure could result in a deeper test of support at 444.95. Should this level give way, we anticipate bears pushing Microsoft toward our extreme bearish target today at 442.95.

NVIDIA Corporation NVDA

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NVIDIA is currently oscillating around the essential level of 131.42. Bulls should first target establishing clear support slightly higher at 132.19. A strong consolidation above this area could ignite further bullish moves upward to 133.31. Persistent buying pressure may result in a further price rise toward 134.56. If bullish sentiment remains high, today’s highest target for NVIDIA sits at 135.64. 

If NVIDIA cannot maintain the critical 131.42 level, bearish traders will push downward aggressively, targeting an initial support test at 129.53. Should this area fail under selling pressure, further declines toward the level at 128.10 can be expected. Weakness continuing to prevail could bring prices to challenge the important support at 126.84. Under heavy selling pressure, bears may reach today’s extreme bearish target of 125.21.

Alphabet Inc Class A (GOOGL)

Alphabet is currently trading near our primary level at 163.79. For bullish traders, the immediate objective is establishing strong support at 165.41. Successfully holding this level can enable further upside momentum, targeting 167.04 next. Continued bullish activity today can potentially push prices toward our top bullish target at 169.34. 

If support at 163.79 falters, sellers will aim lower toward 161.79. A breakdown here could drive prices further downward to initially test 160.36. Strong and persistent selling would likely encourage bears to challenge deeper support levels, bringing today’s bearish target of 158.54 firmly into focus.

Meta Platforms Inc (META)

Meta is currently trading near our critical pivot at 629.88. Bullish momentum requires first reclaiming support clearly above 635.49, potentially triggering further upward moves toward 642.59. A sustained bullish environment could propel the price toward the notable resistance at 646.48. Continued bullish pressure may help Meta reach today’s highest bullish objective at 650.56. 

If 629.88 fails as a stable support today, bears will aggressively press prices downward, targeting 622.01. Continued bearish force can drive prices further toward the lower level at 615.65. Significant selling pressure could cause a deeper drop, testing today’s ultimate bearish goal of 609.30.

Tesla Inc. (TSLA)

Tesla is currently trading near our vital reference level of 333.93. For a bullish scenario, buyers must initiate momentum higher toward 340.97. Sustained strength above this point could further lift prices to test resistance at 346.64. If the broader market rallies significantly today, Tesla may see an extended upside move to 350.87. Continued bullish enthusiasm could propel prices toward today’s highest target for Tesla at 356.80. 

If Tesla cannot hold the crucial level of 333.93, bears will target downward momentum immediately toward 327.59. Persistent selling can lead to a further decline toward the next significant support at 322.52. Should bearish pressure remain intense, the critical lower support at 315.93 could be challenged, potentially extending losses toward today’s extreme bearish target of 312.42.

Final Word: 

Today’s economic calendar is notably sparse. At 10:00 AM ET, we have the release of April’s Leading Index, providing minimal market-moving potential. Traders will, however, closely monitor commentary from Federal Reserve speakers, including Bostic, Williams, and Jefferson, all scheduled prior to market open, and Logan at 1:15 PM ET and Kashkari at 1:30 PM ET. With limited economic catalysts, heightened market attention will be directed toward recent developments surrounding Moody’s credit rating downgrade and ongoing tariff negotiations. 

In the current market environment characterized by lower economic data visibility, expect heightened volatility around headlines. Traders should stay vigilant and prioritize risk management strategies to safeguard against unexpected market swings. Stay disciplined and best of luck today!

The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.

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