Trading SPY Ahead Of Fed Interest Rate Decision Tomorrow

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 near our key level of 565.38. For the bulls, we want to see buyers step in and push the price toward 566.46. If price action remains constructive above 566.46, we anticipate a move to 567.81. Should 567.81 be defended as support during the session, buyers may attempt to drive the price higher to 569.16. If momentum remains strong, our high bull target on the day is 569.98.

If 565.38 fails to hold as support, sellers will look to drive the auction down to 564.29. If bears maintain control, a further decline could bring 563.23 into focus. A break below this level would expose the next key support at 561.90. In the event of heavy downside pressure, our low bear target for the session stands at 560.83.

Invesco QQQ Trust Series 1 (QQQ)

QQQ is currently auctioning near our key level of 479.03. For the bulls, we want to see strength above 479.03 to establish support. If this level holds, buyers could attempt a rally toward 481.73. Continued upside momentum would bring 483.95 into play. Should the bullish trend persist, we anticipate a test of 486.10, with the high bull target set at 487.69.

If 479.03 fails to act as support, the bears will aim to push the price lower to 476.85. If selling pressure builds, we expect a move down to 474.66. Further weakness could see 471.33 challenged as a key support zone. If sellers maintain dominance and break through this level, our low bear target for today is 469.27.

Apple Inc. (AAPL)

Apple is currently trading around our level of 212.44. For the bulls, we want to see this level hold as support and drive the price higher toward 214.07. If buyers continue to step in, we expect a further rally toward 215.25. Should momentum persist, the final upside objective for today stands at 216.70.

If 212.44 fails to hold as support, the bears will likely attempt to drive the price down to 211.12. If selling pressure continues, we anticipate a further drop to 209.81. Should bears retain control and momentum accelerates, a test of 208.81 is probable, with our low bear target for the session set at 207.93.

Microsoft Corp. (MSFT)

Microsoft is currently trading near our level of 386.09. For the bulls, we are looking for price action to hold steady above 386.09 and push toward 387.60. If buyers maintain strength, we anticipate further upside toward 388.53. Continued momentum could see Microsoft extend gains to our high bull target of 389.29.

If 386.09 does not hold as support, the bears will look to drive the auction lower to 385.42. A breakdown below this level could bring 384.57 into play. If weakness persists, a further decline toward 382.69 is likely. In an extended bearish session, our low bear target is set at 379.50.

NVIDIA Corporation (NVDA)

NVIDIA is currently auctioning near our level of 119.44. For the bulls, we want to see this level act as a springboard for a push toward 120.27. If buyers sustain strength, the next upside target is 121.97. A continuation of bullish momentum could bring NVIDIA to our high bull target of 123.41, with an extended rally possibly reaching 125.21.

If 119.44 fails as support, we expect sellers to push lower toward 117.86. Continued downside pressure could drive price action to 116.61. If bears maintain control and the session remains weak, a further drop to 115.83 is likely, with our low bear target for today resting at 115.15.

Alphabet Inc Class A (GOOGL)

Alphabet is currently trading around 163.79. For the bulls, we want to see this level hold as support and push higher toward 165.41. If buying momentum continues, a move to 167.04 is likely. If Alphabet remains strong, an extended rally could bring the price toward our high bull target.

If 163.79 fails to hold as support, we expect the bears to take control and drive the price lower to 161.79. If further selling pressure emerges, a breakdown to 160.36 is probable. In a weak session, the final downside objective for today stands at 158.54.

Meta Platforms Inc META

Meta is currently trading around 604.50. For the bulls, we need to see this level hold as support and provide the strength needed for a move to 609.30. If buyers remain in control, we anticipate further upside toward 615.65. If momentum sustains, our high bull target for the session is 622.01.

If 604.50 fails to hold, sellers will likely push the price down to 598.17. If this level gives way, a further decline to 591.29 is expected. Should bearish momentum accelerate, our low bear target for the day is set at 585.73.

Tesla Inc. (TSLA)

Tesla is currently auctioning around our key level of 233.49. For the bulls, we want to see this level hold and push the price toward 235.74. If buying momentum continues, a move toward 238.50 is likely. If the broader market supports bullish sentiment, we could see Tesla test 239.92, with our high bull target for the session at 242.49.

If 233.49 cannot hold, we anticipate sellers pushing the price down to 230.65. If selling pressure increases, the next key level to watch is 228.45. Should the bears take full control, we expect Tesla to reach our low bear target at 226.53.

Final Word:

Today’s session kicks off with key Canadian CPI data for February at 8:30 AM ET, alongside Housing Starts, Building Permits, Import Price Index, and the New York Fed Services Business Activity report. At 9:15 AM ET, Industrial Production, Capacity Utilization, and Manufacturing Production figures for February will be released. Later in the session, the Treasury will hold a 52-Week Bill Auction at 11:30 AM ET, followed by a 20-Year Bond Auction at 1 PM ET.

With the FOMC rate decision looming tomorrow, market participants should be prepared for volatility. Price action may be choppy as traders position themselves ahead of the announcement. Expect erratic moves and quick reversals as liquidity shifts throughout the day. Stay focused, manage risk accordingly, and trade with discipline. Good luck!

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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