How High Or Low Can The SPY Go 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 trading around the pivotal 549.00 mark. Buyers need to quickly step in and lift the price to 549.67. If strength remains solid above this threshold, anticipate a push to the key level at 550.45. Sustained momentum at this support could lead to further bullish activity toward 551.33. On a particularly bullish session, SPY may reach as high as 552.50. 

If the critical level of 549.00 gives way, expect sellers to drive prices down toward 548.13. A lack of support there may intensify bearish pressure, bringing the next test lower to 547.56. Heavy selling beyond this could take the market swiftly to 546.46, and a strongly bearish day could even extend to our lower target at 545.24.

Invesco QQQ Trust Series 1 (QQQ)

The QQQ is hovering around the important 462.14 area. Bulls need to solidify this point and push upward to secure 463.56 as new support. Continued bullish action from there could quickly bring the market up toward 465.93. A vigorous auction could even propel prices higher toward 467.60, with the bullish scenario peaking at today’s top target of 469.27. 

If buyers fail to maintain 462.14, anticipate bears aggressively pressing downward toward 460.55. Further weakness could open up downside levels, with sellers pushing the price toward 458.83. Persistent bearish sentiment would likely see a test of 457.55, and a breakdown here might even lead us to our ultimate bearish objective today at 456.23.

Apple Inc. (AAPL)

Apple is currently trading around the crucial 216.70 area. Buyers must firmly defend this level and drive prices upward toward 218.08. Continued upward strength could swiftly bring 219.19 into play. If bullish sentiment takes firm control, we anticipate a potential test of our highest bull target today at 220.29. 

If Apple's price struggles to sustain above 216.70, watch for bears to push aggressively down to 215.25. A bearish continuation might test lower support at 214.07, and sustained selling pressure could expose 212.44. If that fails, our bearish target at 211.12 could be reached in today’s trading.

Microsoft Corp. (MSFT)

Microsoft is auctioning near the significant 372.03 zone. Bulls will need to establish strength above this mark, targeting a rally toward 373.48 and securing it as support. Holding above that could trigger further bullish momentum toward 375.11. With sustained upward pressure, Microsoft could potentially achieve today’s high bull objective at 375.93. 

If the auction weakens below 372.03, expect bears to swiftly test lower toward 370.10. Continued bearishness might open further downside, pushing the market to 368.79. Ongoing selling momentum could bring a retest of 366.98, with deeper bearish moves potentially targeting the low of 365.35 for the session.

NVIDIA Corporation (NVDA)

NVIDIA is auctioning around the crucial 105.23 level. Bulls will aim to gain immediate traction and reclaim 106.30 as reliable support. A sustained bullish advance could see 107.51 challenged shortly thereafter. Persistent buying strength might propel the market even higher to 109.12, potentially reaching today’s bullish apex of 109.86. 

Should NVIDIA falter below 105.23, sellers will likely pressure the price downward to test 103.96. Increased bearish momentum from there would target 102.55 next. Continued weakness could bring the lower level of 101.02 into focus, and extreme selling pressure today could drag prices down to our ultimate bearish level at 99.87.

Alphabet Inc Class A (GOOGL)

Alphabet is currently negotiating near our critical level at 152.27. Bulls need this support to hold firmly, pushing prices higher initially toward 152.94. If bullish confidence continues, Alphabet could swiftly test the day’s peak bullish target at 153.54. 

If the 152.27 mark breaks down, sellers may quickly push Alphabet lower toward initial support at 151.24. Further downside pressure could drive the price toward 150.41. Persistent bearish action could lead to a deeper sell-off, potentially reaching the session’s lower target at 149.58.

Meta Platforms Inc (META)

Meta is currently testing the vital support area at 559.29. Bulls must firmly maintain this level and begin a push toward 565.53. Solid buying here could trigger further upside potential toward 573.25. Continued bullish control might eventually elevate prices toward today’s peak bullish objective at 580.17. 

If support at 559.29 weakens, bearish pressure is expected to quickly intensify toward 553.05. Continued sell-side action would likely target 548.44 next. A decisive breakdown here could further encourage bears to push the price down to our lower bearish level today at 541.79.

Tesla Inc. (TSLA)

Tesla is auctioning near the pivotal mark of 246.16. Bulls will need to immediately drive price upward to challenge resistance at 248.37. Persistent buying momentum could lead Tesla higher, testing 250.25 soon thereafter. If broader market sentiment is bullish today, Tesla may easily climb toward the 252.38 level, with our upper bullish goal for today set at 254.28. 

If 246.16 breaks down as support, bears might aggressively test lower at 243.98 initially. A continued bearish push could expose downside support around 242.49. Significant selling below 239.92 would likely spark heavier bearish momentum, potentially dragging prices to our lowest bearish point at 238.50.

Final Word: 

Today’s session is relatively quiet regarding economic data but includes a few noteworthy releases. At 9:45 AM ET, the market will assess the MNI Chicago PMI for March, followed by the Dallas Fed Manufacturing Activity report at 10:30 AM ET. Later, at 11:30 AM ET, we have the Treasury auctioning 3-month and 6-month bills. Traders should also prepare for end-of-month repositioning flows, as well as heightened volatility ahead of the anticipated tariff announcements slated for April 2nd. 

Given these conditions, remain vigilant for volatility spikes around these data releases and auctions, manage your positions carefully, and be cautious of abrupt price movements. Stay disciplined, patient, and trade responsibly.

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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