How To Trade SPY, As US Job Growth Slows Marginally In April

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 pivotal level at 560.83. Bulls would like to drive prices upward, first targeting 561.90. A solid hold above this mark would give buyers the momentum needed to challenge our next crucial support at 563.23. Sustained strength here can facilitate further advances toward 564.29. Should bullish sentiment dominate today’s trading, the top bullish objective for SPY sits at 565.38. 

Conversely, if the bulls fail to defend 560.83, bears will aim lower, first probing 559.75. Significant selling at this level could spark additional bearish momentum, driving prices toward 558.32. Breaking this point under heavy volume would likely open the gates to further downside, with strong support identified at 557.44. In the scenario of intense bearish pressure, our lowest bearish objective today is 556.27.

Invesco QQQ Trust Series 1 (QQQ)

The Q’s are currently trading near our key price of 483.95. Bulls should aim to firmly hold above this threshold, with their initial goal set at securing the 486.10 level as dependable support. If buying continues strongly from there, we anticipate an upward push toward 487.69. A robust bullish auction could potentially test higher at 490.05, setting the stage for achieving today’s bullish upper boundary at 491.82. 

Should bulls struggle and lose their grip on 483.95, bears will capitalize on weakness to drive the price aggressively lower, targeting 481.73 initially. Continued downward momentum could bring 479.03 into the crosshairs, with additional selling potentially testing the sturdiness of support at 476.85. If bearish dominance persists, look for the price to extend declines toward today’s ultimate bearish target at 474.66.

Apple Inc. (AAPL)

Apple is trading near our significant price level of 205.54. Bulls need to see sustained buying momentum above 206.55, stabilizing this as a reliable support zone. From there, bullish strength could propel the price to challenge 207.18. Continued positive momentum would likely push the auction higher, targeting 207.93, and ultimately testing today’s peak bullish level at 208.81. 

If buyers fail to hold 205.54, anticipate bearish pressure to increase, first testing lower support at 204.33. If selling intensifies, prices could descend further to the critical level of 203.48. Persistent bearish sentiment may result in the price testing support at 202.29. A breakdown here would clear the way for a deeper retracement to our lowest bearish target today at 200.53.

Microsoft Corp. (MSFT)

Microsoft is trading around our designated pivotal price of 425.16. Bulls will want to quickly secure a stable footing above 426.00, enabling a further advance toward our next key area of 427.36. Establishing this as firm support during the session would likely invite increased buying, potentially driving the price up to 428.48. Should bullish momentum continue strong, expect a test of today's highest bullish objective for Microsoft at 429.25. 

If 425.16 gives way under bearish pressure, sellers will initially aim to drive prices down toward the 423.81 support area. A decisive break lower would open further downside, targeting the next support level at 422.84. Continued bearish conviction could push Microsoft even lower, testing critical support at 421.62, with today's lowest bearish target identified clearly at 420.26.

NVIDIA Corporation ( NVDA)

NVIDIA is currently trading near our significant support level at 112.54. Bulls would prefer to swiftly reclaim and secure the next higher price at 113.68 as firm support. Successfully holding this zone should open the door to further upward momentum toward 114.29. Continued buyer conviction could sustain a bullish advance toward 115.15, ultimately reaching today’s maximum bullish objective at 115.83. 

If support at 112.54 fails, bearish participants will likely probe lower toward the initial support at 111.70. Weakness here could lead to additional selling pressure, pushing prices further down to 110.73. Persistent bearish strength may test deeper support at 109.86, with continued selling potentially triggering a decline toward today’s lowest bearish target at 109.12.

Alphabet Inc Class A (GOOGL)

Alphabet is presently trading around our critical support at 161.79. Bulls will aim to solidify this price and initiate a climb toward 163.79. Positive momentum from buyers could potentially carry the price even higher, challenging today’s top bullish level set at 165.41. 

On the flip side, failure to hold 161.79 could give bears the opening needed to push prices lower to the immediate downside support at 160.36. Breaking beneath this level would encourage additional selling, driving prices toward a lower support at 158.54. Should bearish momentum intensify, expect Alphabet to test the lowest bearish objective of the day at 157.41.

Meta Platforms Inc (META)

Meta is currently trading around the important price of 580.17. Bulls need to secure this level decisively, aiming first to elevate prices toward the next target at 585.73. Persistent buying pressure throughout today’s session could extend the rally to 591.29, with further bullish dominance capable of achieving our maximum bullish objective today at 598.17. 

However, if bears break support at 580.17, initial selling pressure is expected to target the downside level of 573.25. Continued bearish action could drive prices lower to 565.53. A breakdown under this level would open the doors to deeper selling pressure, potentially reaching today’s low bearish target for Meta at 559.29.

Tesla Inc. (TSLA)

Tesla is auctioning near our pivotal support area of 281.32. Bulls are tasked with pushing prices upward, initially targeting resistance at 283.95. Further buyer interest could see the price approach our next key resistance at 286.34. Sustained bullish momentum across the broader market today may carry Tesla higher toward 288.80, with strong buying pressure potentially lifting prices to the day’s upper bullish limit at 290.47. 

Conversely, if 281.32 fails to hold firm, expect bearish pressure to initially probe lower toward 279.43. Additional weakness could result in sellers targeting the key support at 278.11. A significant breakdown beneath this price could accelerate declines toward our lowest bearish target today at 275.07.

Final Word: 

Today’s trading session kicks off with major economic indicators dominating the market narrative. Traders will closely analyze April's Non-Farm Payrolls data, Average Hourly Earnings, and Unemployment Rate, given their substantial impact on Federal Reserve monetary policy expectations. Additionally, Lisa Cook of the Federal Reserve is scheduled to speak at 12:50 PM ET, offering potential insights on future rate adjustments. Prepare for heightened market volatility as participants interpret this significant data and any emerging headlines around trade tensions and tariff developments. Maintain discipline in your trading approach, carefully manage risk, and stay responsive to rapidly evolving market conditions. Good luck, enjoy your Friday trading, and have a good weekend!

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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