Trading Strategy For SPY, As Market Eyes PPI Data

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 near our pivot at 530.09. Bulls need momentum above this level to initially target 531.57. If buyers remain dominant above this level, the next important zone would be 534.17, which could act as solid intraday support. Holding above that could set the stage for an advance towards 536.31. Our optimistic bull scenario today places SPY at a peak target of 538.30.

However, if SPY fails to sustain support at 530.09, bears could push prices down to test 527.36. A breach below this level under selling pressure would open up a test of 525.26. If bears seize control strongly here, expect continued downside momentum towards 522.84. Should the market experience aggressive selling, our low-end bear scenario targets a drop to 520.67.

Invesco QQQ Trust Series 1 QQQ

QQQ is hovering around our important zone of 450.98. Bulls must secure this level to move higher toward 452.98, establishing it as dependable intraday support. Persistent buying at these higher levels would signal strength toward 455.29, and potentially extend the rally to 457.55. Our maximum bullish target today for the QQQ stands at 460.55.

Conversely, failure to hold firmly above 450.98 would encourage bears to press aggressively downward to 447.73. If selling accelerates, expect further downside attempts toward 445.43. Sustained bearish momentum would likely see another significant test at 444.09, and if breached decisively, the day’s bearish objective is pegged at 441.56.

Apple Inc. AAPL

Apple is currently testing the important support zone at 192.76. Bulls need strength at this level to move higher toward 193.95. If the bullish sentiment holds firm, the next upside target would be 194.83, with sustained buyer participation potentially driving the price action towards our peak bullish target for Apple today at 196.01.

Should Apple fail to maintain the 192.76 mark, expect bears to drive prices lower, testing the critical zone of 191.57. Persistent selling could see further decline towards 190.52, with additional weakness paving the way to test 189.44. A breach under sustained selling pressure would put our bearish scenario into play, targeting 188.20.

Microsoft Corp. MSFT

Microsoft is actively trading near our pivotal support at 384.57. Bulls will look to hold firmly above this price, then aim higher toward 386.09 to solidify it as robust intraday support. A sustained rally above this level could initiate bullish continuation toward 388.53, with sustained buying potentially reaching our highest bullish target of the session at 390.98.

Alternatively, losing support at 384.57 would open up a test lower at 381.64. If selling pressure escalates, bears will likely push downward to 379.50. Continued bearish momentum would likely target 377.72, marking our day’s lowest bear objective for Microsoft.

NVIDIA Corporation NVDA

NVIDIA is currently positioned around our important trading zone at 109.12. Bulls will aim for immediate upward movement to 110.73 and confirm this level as reliable intraday support. Additional bullish momentum could lift prices to 112.54, with continued strength likely propelling the auction towards 114.29. Our highest bull-side goal for NVIDIA today sits at 115.83.

If NVIDIA fails to maintain strength above 109.12, expect a bearish push down to 106.30. Continued bearish conviction would likely see a further test lower at 103.96, and if selling pressure intensifies, we anticipate a test at 101.02. Should this support falter, the bears’ ultimate target today stands at 99.87.

Alphabet Inc Class A GOOGL

Alphabet is auctioning around our critical price level of 154.95. Bulls must hold above this pivot, moving higher initially toward 156.61. Continued bullish dominance would increase the likelihood of seeing Alphabet test upward, targeting today’s high bullish price of 158.54.

If Alphabet loses support at 154.95, bears will likely initiate downside selling toward 153.93. Should selling intensify further, a bearish push to 152.94 could unfold. Under heavy selling conditions, we anticipate Alphabet potentially declining to our bearish target of 150.41.

Meta Platforms Inc META

Meta is trading around our important pivot at 553.05. Bulls will need a solid push above this zone, targeting the next upside milestone at 565.53. Sustained bullish enthusiasm could lift the price action further towards 573.25, with continued upward momentum potentially reaching today’s maximum bullish target at 580.17.

Conversely, if Meta fails to maintain the 553.05 level, anticipate bears selling aggressively toward 541.79. Sustained selling pressure could further depress prices to 534.33. Under increasingly bearish conditions, Meta could decline to today’s lowest bearish scenario at 526.29.

Tesla Inc. TSLA

Tesla is auctioning near our critical pivot point of 252.38. Bulls are aiming to establish strength here, targeting a push higher towards 256.34. If buyers consistently step in at higher levels, the next key test would be at 259.81, potentially extending bullish momentum towards 262.68. Today’s optimistic bull scenario for Tesla sees the auction potentially reaching as high as 266.83.

However, if the price loses support at 252.38, bearish momentum could accelerate towards 248.37. Continued selling would likely press prices lower toward 246.16. Should this level fail decisively, expect further downside, with our ultimate bearish target on the day situated at 242.49.

Final Word: 

Today's economic calendar features important data points beginning at 8:30 AM ET, with the release of the Producer Price Index (PPI) Final Demand for March. Following this, at 10 AM ET, markets will digest preliminary University of Michigan Consumer Sentiment figures, including Current Conditions, Consumer Expectations, and notably, the short and long-term inflation outlooks. Additionally, several influential Fed officials – Kashkari, Collins, Musalem, Williams, and Barkin – are scheduled to speak throughout the day, potentially impacting market sentiment with their remarks.

Given the backdrop of ongoing geopolitical tensions, escalating trade disputes, and tariff uncertainties, heightened volatility remains probable today, especially with weekly options contracts expiring. Traders should remain vigilant, practice disciplined risk management, and prepare for swift market movements. Best of luck navigating today’s volatility, and have a profitable 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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