How To Trade SPY And Top Tech Stocks As Fed Interest Rate Decision Looms

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)

The SPY is presently trading near our pivotal mark of 559.75. Bullish momentum today hinges upon buyers reclaiming and sustaining price action above 560.83. If this occurs convincingly, the next key support area at 561.90 will be targeted. Sustained bullish volume could facilitate upward movement to 563.23, potentially extending gains to our primary bull target of 564.29. 

Conversely, should 559.75 fail as reliable support, bearish pressure will likely escalate, first probing downside support at 558.32. Sellers gaining momentum here could further weaken SPY, with subsequent testing of the critical level at 557.44. A decisive breakdown under strong selling conditions brings 556.27 into focus, with the day’s lower bearish boundary at 555.11 potentially becoming exposed.

Invesco QQQ Trust Series 1 (QQQ)

The QQQ is trading near our significant inflection point at 481.73. Buyers must actively support price above this critical area for bullish sentiment to prevail, initially targeting a decisive move higher to 483.95. Persistent strength could then unlock upside potential toward 486.10, and continued bullish commitment may test resistance at 487.69. Our upper bullish target today for the QQQ stands confidently at 490.05. 

If price struggles to sustain above 481.73, bearish forces are expected to seize control, aggressively selling toward 479.03. If downward momentum intensifies, expect continued weakness toward 476.85. Persistent selling could further challenge support at 474.66, and a strong breach here places our bearish target of 471.33 firmly in view.

Apple Inc. (AAPL)

Apple is currently negotiating around our reference point at 197.69. For the bullish case to materialize, buyers must solidify support above 198.22, aiming next for advancement toward 198.79. Should bullish intent persist, the auction could test upward momentum to 199.51, with our principal bullish objective for Apple today set at 200.53. 

If 197.69 cannot provide reliable support during the day’s session, bearish sellers are anticipated to press downward toward 197.00. Additional weakness would likely see the auction decline to 196.61. Should selling momentum remain strong, further downward pressure will bring 196.01 into consideration, eventually targeting our bearish projection at 195.67.

Microsoft Corp. (MSFT)

Microsoft is actively trading near our benchmark level of 432.49. The bullish narrative requires price action to remain firmly supported above 432.49, subsequently pushing upward to secure support at 434.49. Maintaining strength above this critical zone opens further upside toward 435.79, and if bullish enthusiasm sustains, our upper bullish target of 437.10 will come into play. 

If support at 432.49 deteriorates under selling pressure, bearish traders are likely to probe lower, initially targeting 431.25. Continued downward action will likely engage sellers toward 430.25. Persistent bearish influence could escalate selling toward 429.25, ultimately targeting our lower bearish boundary at 428.48.

NVIDIA Corporation NVDA

NVIDIA is currently testing price stability near our important pivot at 112.54. For the bullish outlook to hold, buyers need to assertively reclaim and hold support at 113.68, which could facilitate upside momentum toward 114.29. Further bullish energy may elevate price action toward the subsequent resistance level at 115.15, with today’s high bullish target clearly marked at 115.83. 

Should the price fail to hold steady at 112.54, bears will likely gain traction, initially targeting a decline toward 111.70. Sustained selling at this juncture could prompt further downside toward 110.73, and continued weakening will test deeper support at 109.86. A decisive breach here will position NVIDIA toward our bearish target of 109.12.

Alphabet Inc Class A (GOOGL)

Alphabet is actively trading around our central level at 161.79. For bullish momentum to flourish, price action must successfully hold above this critical area, prompting a potential push upward toward the resistance at 163.79. Sustained bullish activity today could see the auction achieving our primary bullish target at 165.41. 

If sellers overwhelm the support at 161.79, bearish momentum will likely accelerate price movement lower toward the immediate support at 160.36. Breaking this level decisively would intensify selling pressure, driving Alphabet toward the next key downside test at 158.54. Continued bearish volume could ultimately target our lower bearish boundary at 157.41.

Meta Platforms Inc ( META)

Meta is currently navigating around our key trading level of 591.29. A bullish scenario today requires maintaining support above this price point, which could encourage buyers to test upward momentum toward 598.17. Continued bullish strength might see prices rally toward 604.50, with our ultimate bullish objective for today’s session established at 609.30. 

However, if the price fails to sustain above 591.29, bearish sellers are expected to actively pressure the market downward toward support at 585.73. Continued selling activity might further challenge support at 580.17, and a deeper decline could push Meta toward our lower bearish target of 573.25.

Tesla Inc. ( TSLA)

Tesla is actively auctioning near our essential level at 275.07. For bullish momentum today, Tesla must push price decisively above 278.11, opening the way toward further resistance at 279.43. Strong market-wide bullish activity could propel prices even higher, challenging the next key level at 281.32. Sustained bullish energy may then elevate Tesla toward today’s upper bullish boundary at 283.95. 

Conversely, should 275.07 fail as reliable support, expect bearish pressure to accelerate toward 272.42. Continued downside momentum could then target 269.48. Persistent selling could further challenge the critical level at 266.83, and a breakdown here would pave the way toward our lower bearish target at 264.46.

Final Word: 

Today’s trading session features minimal economic data points, making headline-driven volatility more likely. At 8:30 AM ET, we'll receive March’s Trade Balance figures, followed by the May RCM/TIPP Economic Optimism reading at 10:00 AM ET. Later, at 1:00 PM ET, traders will monitor the Treasury's auction of 10-Year Notes. Given this quiet economic backdrop, heightened market sensitivity to geopolitical developments, especially updates regarding international trade disputes and potential tariff announcements, is anticipated. 

Furthermore, positioning ahead of tomorrow's critical FOMC interest rate decision will likely dominate market activity. Traders should remain vigilant, maintaining disciplined risk management practices amid increased headline volatility and potential market reactions. Trade cautiously and manage risk wisely. Good luck today!

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