Technical Analysis For SPY And Top Tech Stocks Amid Bearish Sentiment

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 auctioning around our critical pivot of 540.07. Bulls should aim for an immediate ascent toward 541.49. Sustained bullish activity above 541.49 may spark a further advance towards our significant support at 544.04. If buyers successfully stabilize above this point during regular hours, watch for continued upside momentum to test the next significant area at 546.46, with an ultimate bullish ambition of reaching 548.13.

If buyers fail to secure the 540.07 mark, bearish forces will likely challenge the integrity of the 539.18 support. Increased sell-side activity here would set up a further decline toward the 537.20 area. Should selling pressure intensify, anticipate a significant test lower at 535.43. If selling accelerates fiercely, our downside target for the bears today is positioned at 534.17.

Invesco QQQ Trust Series 1 (QQQ)

The Q’s are currently hovering near the pivotal price of 458.83. For bullish momentum to take hold, buyers need to firmly establish support at this level and push the auction upward toward the resistance at 462.14. Continued buying strength could further elevate the market to test the critical resistance at 463.56. With substantial bullish commitment, anticipate an aggressive push toward today’s bullish target at 467.60, passing through an intermediate hurdle at 465.93.

Conversely, if 458.83 falters as reliable support, sellers will likely seize control and drive prices lower, targeting the level at 456.23. Should bearish sentiment persist at this level, further downward pressure toward 455.29 could ensue. Continued sell-side aggression might lead to a significant support test at 454.10, and ultimately, if selling intensifies, we could see prices challenging our bearish target at 450.98.

Apple Inc. (AAPL)

Apple shares are presently auctioning around the critical pivot of 202.29. Bulls need to anchor securely above this mark and push upwards toward 203.48 to establish a new base of support. A solid bullish drive past this area would invite further bullish attention toward 205.54. Persistent buying could open doors for Apple to aim directly at today’s upper bullish target, pegged at 206.55.

Should 202.29 weaken under selling pressure during today’s regular session, expect bears to quickly test the lower boundary at 200.53. Ongoing bearish activity could push Apple down toward 199.51. Continued selling intensity may further challenge 198.79. Failure to hold at this point would likely push the auction down toward our final bearish objective of 198.22.

Microsoft Corp. (MSFT)

Microsoft is auctioning around our crucial area of interest at 389.29. For bulls, maintaining a strong foothold above 390.98 would likely ignite bullish momentum, aiming for a test of 393.47, establishing it firmly as support. A successful consolidation here could set the stage for additional bullish exploration toward 394.46. Sustained buying enthusiasm would likely propel Microsoft toward our ultimate bullish target for today at 397.65.

If sellers gain traction and break below 389.29 during today’s session, we anticipate an immediate test lower at 388.53. Further selling pressure breaking this level could lead to bearish expansion toward 386.09. Persistent downward momentum would bring into focus the support at 384.57, and on heightened bearish intensity, the price might slide towards today’s bearish target of 382.69.

NVIDIA Corporation ( NVDA)

NVIDIA is currently auctioning around our critical point of 110.73. Bulls will need immediate strength to challenge and sustain trading above 111.70, converting this resistance into a new base of support. Success here would likely encourage further buying toward 112.54. Continued bullish activity could propel prices higher toward 113.68, with our ultimate bullish goal for today set at 115.83.

Conversely, failure to maintain support at 110.73 during today’s auction would likely result in bears pressing toward 109.86. If selling intensifies below this zone, expect further bearish moves toward 109.12. A sustained bearish auction could see an extended test of support at 107.51. With ongoing downward pressure, today’s bearish objective sits significantly lower at 106.30.

Alphabet Inc Class A GOOGL

Alphabet is currently trading near the pivotal price of 160.36. Bulls need to strongly secure support at 161.79 and then carry momentum upwards toward 163.79. Continued bullish commitment may allow Alphabet shares to ascend toward today’s upper bullish objective at 165.41, provided market strength persists.

If the 160.36 price mark breaks down, expect sellers to promptly test lower support at 158.54. Sustained selling activity beneath this area would set the stage for further downside exploration toward 156.61. In the event of heavy sell-side pressure, a deep bearish push toward our ultimate bearish target today at 154.95 should not be ruled out.

Meta Platforms Inc ( META)

Meta is currently trading around our crucial benchmark of 534.33. Bullish traders must firmly establish this level as support to drive price upward toward the next significant resistance at 537.68. If buyers assert sustained strength here, anticipate a further rise toward the level of 541.79. Persistent bullish activity today could ultimately push Meta toward our ambitious bullish target of 548.44.

On the flip side, should the 534.33 support fail to hold during regular trading hours, bears will likely seek to aggressively target downside levels, initially probing support at 531.03. Continuation of bearish momentum could further pressure prices toward 529.29. If the bearish trend intensifies, anticipate further deterioration toward today’s bearish goal at 520.27.

Tesla Inc. ( TSLA)

Tesla is currently auctioning near our pivotal reference price of 250.25. To initiate bullish momentum, buyers must decisively push upward toward 252.38. Continued bullish conviction would likely extend the rally toward the important level of 254.28. If today’s broader market sees bullish conviction, expect Tesla to test the higher level at 256.34. With substantial bullish buying, the price might reach today’s primary bullish target at 259.81.

If Tesla struggles to sustain support at 250.25, anticipate bearish efforts to target the lower boundary at 248.37. Increased selling here would likely press the auction further down toward 246.16. If bearish momentum continues to dominate and this support breaks, Tesla could descend toward today’s primary bearish target of 243.98.

Final Word: 

Today’s trading session kicks off with crucial economic data releases, including the Empire Manufacturing Index for April and the Import and Export Price Index for March at 8:30 AM ET. Market participants should also stay tuned for the Treasury’s 52-week Bill Auction scheduled at 11:30 AM ET. Additionally, Federal Reserve officials Barkin at 11:35 AM ET, and Cook at 6:10 PM ET will deliver remarks, potentially providing fresh insights into monetary policy direction and economic expectations. 

Traders will likely remain highly responsive to developments in the ongoing trade disputes, specifically concerning tariff negotiations and economic diplomacy. This combination of economic releases and geopolitical uncertainties could introduce volatility, making today a session that demands careful risk management. Trade with discipline and stay informed. Good luck in today’s markets!

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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