How To Trade The SPY With Non-Farm Payrolls In Focus

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 around our key level of 573.50. Bulls will want to see strength above this level, leading to a push toward 574.65. If buyers maintain control above 574.65, we anticipate a move to 575.67. Holding this level as support could open the door for an advance toward 576.62. If momentum remains strong, the high bull target for the session is set at 577.87.

Should 573.50 fail to hold as support, bears are likely to challenge 572.15. Further weakness could see price breaking down to 571.06. If sellers remain aggressive and this level gives way, we have strong support at 569.98. In the event of significant selling pressure, our downside target for the day sits at 569.16.

Invesco QQQ Trust Series 1 (QQQ)

QQQ is currently positioned around our key level of 490.05. For bulls, maintaining support at this level is crucial. If buyers step in and defend 490.05, we expect an upward push toward 491.82. Continued strength could drive the price to 493.60, with bullish momentum potentially testing 495.35. If the uptrend extends, our high bull target for the day is 496.94.

If 490.05 cannot hold as support, bears will look to push the price lower to 487.69. A breakdown below this level could see further declines to 486.10. Should selling pressure persist, we anticipate a test of 483.95. If this support fails to hold, our low bear target for the session is 481.73.

Apple Inc. (AAPL)

Apple is currently trading near our level of 234.20. Bulls need to see 234.97 hold as support to fuel a move higher. If buyers gain traction, we anticipate a rally toward 235.74. Sustained bullish momentum could see the stock testing 236.69. If demand remains strong, our high bull target for Apple today is set at 237.49.

If 234.20 fails as support, we expect sellers to push the price lower to 233.28. Continued selling pressure could drive the stock down to 231.76. Should bearish momentum persist, the next key level to watch is 230.25. If this support gives way, our low bear target for Apple today is 229.03.

Microsoft Corp. (MSFT)

Microsoft is currently auctioning around 395.68. For bulls, holding above this level is essential. If 395.68 acts as solid support, we anticipate an upward move to 397.65. Continued buying pressure could lead to a test of 398.38. Should momentum remain strong, our high bull target for Microsoft today is 399.21.

If 395.68 fails to hold, bears will likely push the price lower to 394.46. Further weakness could see the auction testing 393.47. If selling intensifies, we expect a move down to 392.49. In the event of sustained bearish pressure, our low bear target for the day is 390.98.

NVIDIA Corporation (NVDA)
NVIDIA is currently auctioning near 111.70. Bulls will be watching for a push higher to 112.54 and for this level to establish itself as support. If buyers step in, we expect an advance toward 113.68. Continued strength in the auction could lead to a move toward 114.29, with the high bull target set at 115.15.

If 111.70 does not hold as support, bears will aim to drive the price down to 110.73. Should this level break, we anticipate a decline toward 109.86. If sellers maintain pressure, the auction could test 109.12. In a strong selloff, NVIDIA may reach our low bear target of 107.51.

Alphabet Inc Class A (GOOGL)

Alphabet is currently positioned around 171.14. Bulls need to hold this level as support to push higher toward 172.28. If buying momentum persists, we expect an advance toward 173.56. Continued strength in the market could bring our high bull target of 174.01 into play.

Should 171.14 fail as support, bears will look to drive the auction lower to 169.34. If this level does not hold, we anticipate a move down to 167.04. A strong bearish session could see the stock testing our low bear target of 165.41.

Meta Platforms Inc ( META)

Meta is currently trading near 622.01. Bulls will want to maintain strength above this level, which could lead to an upward push toward 629.88. If buyers continue to control the action, we expect a rally toward 635.49. Sustained bullish momentum could propel the stock toward our high bull target at 642.59.

If 622.01 cannot be defended as support, bears are likely to push the price lower to 615.65. A breakdown here would likely lead to further selling toward 609.30. If sellers remain in control, we anticipate a decline to our low bear target at 604.50.

Tesla Inc. (TSLA)

Tesla is currently trading around 257.56. Bulls need to see a push above this level for an advance toward 259.81. If buyers maintain strength, we expect a move toward 262.68. Continued momentum could bring Tesla to 264.46, with our high bull target for the day set at 266.83.

If 257.56 does not hold as support, bears will aim to drive the price down to 256.34. A break below this level could see Tesla testing 254.28. Should selling pressure intensify, we anticipate a move toward our low bear target of 252.38.

Final Word:

Today's session wraps up the week with a highly anticipated Non-Farm Payrolls (NFP) report, which includes February's employment changes across the private sector, manufacturing, and overall labor force. Additionally, the Average Hourly Earnings report will provide insight into wage inflation. Given the significance of these data points, expect sharp market movements.

Several Federal Reserve speakers are scheduled today, including Williams, Bowman, Kugler, and Chair Powell. Their remarks could add further volatility to the session. Be prepared for rapid price swings and manage risk accordingly. Trade smart, stay disciplined, and 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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