How To Trade SPY, Top Tech Stocks As Initial Jobless Claims Fall In A Bullish Sign

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 presently trading near our important level of 623.32. Bulls are targeting an initial advance to 624.57. If momentum persists above 624.57, we anticipate buyers driving prices toward our next key support at 626.11. Should buyers confidently defend 626.11 throughout regular session trading, look for a continuation upward to 626.97, with our ultimate bullish target for the day sitting at 627.81. 

If bulls lose their grip at 623.32, sellers will aim for downside momentum, initially challenging the 622.26 level. Continued bearish pressure will put the 620.97 mark at risk. Breaking this level decisively could see SPY quickly trading down toward the strong support at 619.23. If selling intensifies dramatically, bears might reach our lowest target for the session at 617.68.

Invesco QQQ Trust Series 1 (QQQ)

The QQQ is currently trading near our pivotal level of 555.21. Bulls must firmly establish price action above this mark, subsequently securing 557.14 as reliable intraday support. Persistent bullish sentiment should then encourage further upside momentum, targeting the next resistance at 559.62. If today’s buying is robust, anticipate a stretch toward 563.00, with our top bullish objective for the QQQ standing at 566.30. 

Should QQQ fail to hold 555.21 convincingly during market hours, bears will seize control and push downward aggressively, first testing the 553.46 area. If weakness persists, expect a deeper selloff toward 552.32. Continued bearish dominance could trigger further downside pressure toward the support at 550.60. A breach here opens the door to our lowest bearish target of the day at 549.59.

Apple Inc. (AAPL)

Apple is trading near our crucial price level of 209.81. Bulls should aim to maintain this support, driving the stock upward initially toward 211.12. Sustained buying could elevate Apple to the next upside hurdle at 212.44. If bullish participants decisively dominate today’s trading, our high-end bullish target of 214.07 becomes attainable. 

If buyers fail to defend the critical level at 209.81, bearish sellers will quickly target 208.81 as their first destination. Continuation of selling momentum would bring Apple down to the next support zone at 207.93. A breakdown of that level might induce additional selling toward 207.18, with further weakness potentially reaching our lower bear target at 206.55.

Microsoft Corp. (MSFT)

Microsoft is currently trading near our highlighted level of 502.51. Bulls will first need to secure the area above 502.21, setting the stage for a move upward toward 504.11, which would then act as an intraday support. Holding firmly above 504.11 would position Microsoft for a bullish run toward 505.98, with sustained buyer participation likely pushing prices to our daily bullish target of 508.42. 

If 502.51 is not maintained, expect bears to swiftly challenge the 501.34 mark. Breaking below this support will encourage additional downside pressure, targeting 499.79. Should selling intensify, the next bearish objective becomes 498.27, ultimately opening a path toward our lowest bearish target for the session at 496.90.

NVIDIA Corporation (NVDA)

NVIDIA is currently trading around our critical level of 164.35. Bulls must push the price higher initially to reclaim and firmly establish support at 165.39. Continued upward momentum would then open a pathway to the next resistance point at 166.76. Strong buying throughout the day could drive NVIDIA further upward toward 168.10, with our top bullish target today placed at 169.76. 

If NVIDIA cannot hold above 164.35, expect bearish sellers to target a move lower initially toward 162.15. A breakdown here with notable selling volume could rapidly take prices down to 160.64. Further weakening could see bears testing 159.33, and continued downside momentum might ultimately push NVIDIA toward our daily bearish objective at 158.34.

Alphabet Inc Class A (GOOGL)

Alphabet is presently trading close to our significant level of 176.23. Bulls will first aim to firmly secure this area as intraday support, targeting a push higher toward resistance at 177.28. Strong bullish activity might then extend this rally to reach today’s ultimate bullish target of 179.15. 

If buyers are unable to protect 176.23, sellers will likely take control and aggressively test support lower at 175.12. If bearish sentiment intensifies, expect the auction to continue downward toward 174.01. Under heavy selling pressure, Alphabet could fall toward our low-end bearish objective of 172.28.

Meta Platforms Inc META

Meta is currently trading near our key level of 733.41. Bulls will look to establish firm price strength above 736.12, setting up the opportunity for further advances toward 738.07. Continued bullish conviction should then lift Meta toward the next resistance level at 740.71, with potential for buyers to drive price action toward our bullish target at 743.36. 

If Meta fails to maintain support at 733.41, sellers will immediately target a decline to the support level at 729.50. Continued bearish activity would encourage a further drop toward 727.04. Should this area fail to hold, increased selling might accelerate the move down toward our lowest bearish target of the session at 725.04.

Tesla Inc. (TSLA)

Tesla is currently trading around our significant price level of 298.28. Bulls should first target a move upward to 300.56, with continued buying momentum potentially lifting prices to the next resistance at 304.24. If market sentiment is strongly bullish today, Tesla may push higher toward 310.17, with our maximum bullish objective sitting at 312.42. 

If the support level at 298.28 is compromised, anticipate sellers moving swiftly to test lower prices around 296.44. Additional bearish pressure would likely bring Tesla down further to 294.60. Failure at this level with intensified selling could prompt further downside to our daily bearish target of 293.21.

Final Word: 

Today’s economic schedule remains relatively quiet, but traders should not overlook the scheduled releases. At 8:30 AM ET, markets will focus on the latest Initial and Continuing Jobless Claims data, offering fresh insight into employment trends. Later, at 1 PM ET, the Treasury’s 30-Year Bond Auction will take place, potentially influencing bond yields and equities alike. 

In the absence of major market-moving events, traders should remain highly attentive to unexpected breaking news, particularly relating to ongoing geopolitical tensions and tariff-related developments. Manage risk diligently, remain adaptable to sudden shifts in sentiment, and trade intelligently. Best of luck today!

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