Technical Analysis For Trading SPY And Top Tech Stocks Today

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 pivot at 546.46. Bulls need momentum to breach above 547.56, and maintaining strength there would set up further upside toward 549.00. Should the buying persist above 549.00 during the session, expect continuation toward 550.45. Our ultimate bullish target for SPY today sits at 551.33.

Should buyers fail to sustain support at 546.46, sellers will aggressively attempt to drive prices down to 545.24. A breakdown here will open a pathway lower toward 544.04. Continued bearish momentum could trigger further downside to 542.93. If selling becomes intense, bears could push to our extreme downside target at 541.49.

Invesco QQQ Trust Series 1 (QQQ)

QQQ is currently hovering around our critical pivot at 465.93. Bulls need to establish control above 467.60 to solidify upward momentum, subsequently eyeing 469.27 for sustained bullish sentiment. Persistent buyer presence would elevate the auction toward 471.33, with extended buying potentially targeting 474.66. Our maximum bullish target today is 476.85.

If bullish energy weakens near 465.93, sellers will likely exert downward pressure toward 463.56. A continuation of selling below this level exposes further vulnerability at 462.14. Persistent weakness could lead to deeper probing toward 460.55. If this area gives way, expect intensified selling toward the day’s lowest bearish objective at 458.83.

Apple Inc. (AAPL)

Apple currently trades near our pivotal 205.54. Bulls must sustain activity above this level to push upward toward 206.55. Continued strength beyond 206.55 would suggest bullish conviction toward 207.18. Strong buying activity throughout the day could result in Apple testing our ambitious upside target at 208.81.

If buyers falter and 205.54 breaks down, sellers will aim for immediate downside at 204.33. Increased bearish pressure would open further declines toward 203.48. Continued weakness might extend the selling toward 202.29, and should that support fail, sellers will aggressively push prices toward our bottom bearish level at 200.53.

Microsoft Corp. (MSFT)

Microsoft is currently trading around our significant pivot at 386.09. Buyers must confidently maintain above this level and push the auction up toward initial resistance at 387.60. Securing support here could fuel continued bullish energy targeting 388.53. If bullishness sustains momentum throughout the session, expect a push to our top bullish goal today at 389.29.

If support at 386.09 collapses, sellers will likely probe lower toward 385.42. Additional selling momentum below this level will encourage bears to target 384.57. Should bearish sentiment remain persistent, we anticipate a deeper move toward 383.10, with our ultimate bearish target sitting at 382.69.

NVIDIA Corporation (NVDA)

NVIDIA is trading near our critical level at 106.30. Bullish price action would require buyers to reclaim and firmly establish above 107.51 as robust intraday support. Continued upward activity should bring 109.12 into focus, with potential to rally further toward 109.86. Maximum bullish ambitions today would aim for our peak level at 110.73.

Failure to hold support at 106.30 will likely motivate sellers to aggressively challenge 105.23. Should bearish momentum intensify, expect further declines toward 103.96. Persistent selling could see prices testing lower toward 102.55. If the bears maintain control, anticipate a deeper sell-off down to our minimum bearish objective at 101.02.

Alphabet Inc Class A (GOOGL)

Alphabet is presently auctioning around our pivot at 165.41. For bullish continuation, buyers must defend this support and push prices higher toward the next critical level at 167.04. Persistent strength could lift the auction further to our top bullish target of the day at 169.34.

If buyers fail at 165.41, sellers will likely test lower support at 163.79. A sustained bearish effort breaking this level would lead to additional downside probing at 161.79. Heavy selling pressure today could see the bears reaching our lowest bearish target at 160.36.

Meta Platforms Inc (META)

Meta is trading close to our primary support level at 548.44. Bulls must defend this price to sustain upward momentum, aiming first toward resistance at 553.05. If buying remains strong, the price could surge toward 559.29, with potential continuation to the ultimate bullish target for today at 565.53.

Should buyers lose grip of 548.44, sellers will likely attempt a quick downside move toward 541.79. Persistent selling pressure would expose a further downside target at 537.68. If this level breaks, bearish momentum could intensify toward our lowest intraday bearish target at 534.33.

Tesla Inc. (TSLA)

Tesla currently sits near our essential pivot at 259.81. For bullish sentiment to continue, buyers must decisively lift prices to 262.68. Continued bullish momentum beyond this could open the pathway toward 264.46. If buying sentiment dominates, the auction could advance to 266.83, with further bullish pressure potentially reaching our highest intraday bullish target at 269.48.

If the bulls fail to hold above 259.81, sellers will aggressively target 257.56. A breakdown from there would lead sellers to push lower toward 256.34. Extended bearish strength could result in an accelerated downside move toward 254.28, with our extreme bearish target today at 252.38.

Final Word: 

Today’s economic calendar is notably sparse, with minimal data points to influence market dynamics. At 10 AM ET, investors will receive the finalized University of Michigan consumer sentiment figures, alongside detailed readings on current conditions, economic expectations, and both short-term and long-term inflation outlooks for April. Later at 11 AM ET, the Kansas City Fed’s Services Activity Index will be published, providing some insight into regional economic health. 

In the absence of scheduled Fed speakers, market volatility might be particularly sensitive to unexpected news or geopolitical headlines. Ongoing discussions surrounding global trade tensions and tariff negotiations remain potent sources of volatility. Traders should be especially vigilant, prepared for swift changes in market sentiment. Stay disciplined, manage risk proactively, and have a Happy Friday!

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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