How To Trade The 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)

The SPY is currently trading near our pivotal mark of 574.65. Buyers must initially push prices above 575.67 to demonstrate momentum. If buying persists above this area, expect bulls to challenge the next critical zone at 576.62. Maintaining strength at 576.62 through the trading session could propel SPY upward, targeting resistance at 577.87. Our top bullish goal today for SPY is set at 579.12.

Should 574.65 fail as support, sellers will aim lower, challenging 573.50 to test bullish commitment. A breach here would likely accelerate bearish action, driving price toward 572.15. Persistent selling momentum beneath this level would next target the critical support at 571.06. On a particularly aggressive selling day, SPY could reach our ultimate bearish objective of 569.98.

Invesco QQQ Trust Series 1 (QQQ)

The QQQ is presently hovering around our essential price of 493.60. Bulls need to maintain and stabilize price action here, pushing higher to reclaim 495.35 decisively. If successful, bullish traders could drive prices upward to challenge 496.94 next. With sustained buying strength, further gains toward 498.37 become likely, putting our peak bullish target for today at 499.44 within reach.

If bulls fail to defend 493.60 intraday, expect bearish pressure to quickly drive prices toward the downside level at 491.82. Continued weakness could extend declines to 490.05, with further aggressive selling potentially targeting support at 487.69. A failure to stabilize here could cause prices to tumble further toward our low bearish target today at 486.10.

Apple Inc. (AAPL)

Apple is currently trading close to our crucial pivot at 223.87. Buyers must secure this as reliable support, creating momentum toward the next upside target at 225.31. Should bullish participants continue to dominate price action, Apple shares could advance further to test 226.08. If momentum remains robust throughout the session, expect Apple to challenge our primary bullish target today at 226.90.

If price action fails to maintain 223.87 intraday, selling pressure will likely push Apple lower, initially targeting 222.96. Continued weakness would encourage bearish traders to seek further downside toward 222.24. If selling pressure persists below this area, expect Apple to test support at 221.66, potentially falling further toward today’s lower bearish target at 220.97.

Microsoft Corp. (MSFT)

Microsoft is currently navigating around our key intraday level of 394.46. Bullish momentum must emerge above this level, lifting the price to test the next significant zone at 395.68, which bulls must maintain decisively as support. Achieving stability here could generate a continued upward move to challenge 397.65. With sustained bullish engagement, Microsoft could reach today’s bullish target of 398.38.

If Microsoft falters at 394.46, sellers will likely apply pressure, testing support at 393.47. A clear breakdown below this area would indicate weakening momentum, targeting lower levels at 392.49. If bears gain stronger momentum, price action might extend declines toward 390.98, with our bottom bearish objective today established at 389.29.

NVIDIA Corporation (NVDA)

NVIDIA currently trades around our crucial mark of 119.44. Bulls must rapidly advance the price to test and reclaim support at 120.27. Successful bullish action here could fuel a drive higher, targeting 121.97 next. Continued strong buying throughout today’s session could carry NVIDIA toward further resistance at 123.41, ultimately approaching our high bullish goal today of 125.21.

Should NVIDIA fail to maintain stability at 119.44, bears will press the price downward, initially targeting 117.86. Continued selling below this level could further weaken the market, leading NVIDIA toward support at 116.61. Persistent downside action may extend toward 115.83, with an aggressive bearish scenario placing today’s lowest target at 115.15.

Alphabet Inc Class A (GOOGL)

Alphabet is currently trading around our crucial pivot of 169.34. Bulls need to firmly hold this level to build upward momentum toward 171.14. Sustained bullish activity here could propel Alphabet’s price toward our primary bullish target for the session at 172.28.

A failure at 169.34 during today's trading would trigger bearish momentum, driving Alphabet initially toward 167.04. Increased selling could lead to further downside action toward 165.41. Persistent bearish strength could ultimately push Alphabet toward our lowest bearish target today at 163.79.

Meta Platforms Inc (META)

Meta is presently positioned around our important intraday level of 629.88. Buyers need to establish firm support here, launching price action toward 635.49. Sustained buying activity could further elevate Meta shares toward 642.59. Continued bullish conviction today would enable traders to push prices toward our ultimate bullish target at 646.48.

Should Meta fail to secure 629.88 as intraday support, sellers will target the lower support at 622.01. Continued bearish activity could further pressure price toward 615.65. In the event of sustained selling intensity, bears may ultimately drive prices down to today’s bearish target at 609.30.

Tesla Inc. (TSLA)

Tesla is currently trading around our significant pivot level of 283.95. Bulls should actively push price above this zone to initially challenge 286.34. With ongoing bullish activity, price momentum could reach higher resistance at 288.80. If overall market strength remains supportive, Tesla may extend its rally toward 290.47. Exceptional bullish interest could propel prices to our upper bullish objective for Tesla today at 293.21.

If bulls are unable to secure 283.95 as firm support, anticipate bearish traders driving Tesla toward lower levels starting at 281.32. Continued bearish pressure would likely encourage further selling toward 279.43. A clear breakdown below this support could result in aggressive selling, ultimately targeting our lowest bearish objective for Tesla today at 278.11.

Final Word:

Today's economic calendar is relatively sparse but still noteworthy. At 8:30 AM ET, markets receive the Preliminary Durable Goods Orders and Preliminary Capital Goods Orders data for February, providing insight into the underlying health of the manufacturing and industrial sectors. Additionally, the U.S. Treasury will conduct auctions at 11:30 AM ET for the 2-Year Floating Rate Notes, followed by the 5-Year FRN auction at 1 PM ET. Traders should also pay attention to scheduled Federal Reserve commentary, starting with non-voter Kashkari at 10 AM ET, and more significantly, voting member Musalem at 1:10 PM ET, whose remarks could influence market perceptions on the Fed's future policy stance.

Given these events, traders should anticipate volatility during auction windows and Federal Reserve commentary, adjusting risk accordingly. Manage positions carefully, remain disciplined, and ensure proper risk protocols are followed. Good luck trading 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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