Good Morning Traders!
Today continues the trend of minimal economic data but remains dense with Fed commentary. Fed Chair Jerome Powell's pre-recorded remarks at 8:30 AM ET will likely be watched closely for any hint of tone on policy direction, though no major surprises are expected. Vice Chair Michelle Bowman's fireside chat immediately after could, however, provide more nuance on regulatory and inflation perspectives.
Additional Fed appearances from Goolsbee, Kashkari, and Barr throughout the day, plus Bowman's closing remarks, ensure markets remain tuned to policy chatter. Meanwhile, the 1:00 PM ET 30-Year Bond Auction could add movement in yields and influence risk appetite.
With the shutdown limiting economic releases, today's price action will likely pivot around positioning and interpretation of Fed tone. Expect thin liquidity and quick reactions to headlines. This type of environment rewards focus and patience. Stay nimble, trade smart, and manage your exposure heading into the tail end of the week.
Now, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
SPDR S&P 500 ETF Trust (SPY)
SPY opens at 673.25, with bulls looking to maintain control after a steady grind higher this week. A strong push above this level could invite a move into 674.45 and 675.65, with follow-through momentum potentially carrying into 676.85. Sustained buying may then target 678.05, with an ambitious stretch toward 679.25 if the broader tape stays firm. Each step higher reinforces the market's underlying confidence despite thin participation during the shutdown.
If SPY loses 673.25, sellers may press for a test of 672.00. A break below here exposes 670.80 and 669.55, with additional pressure driving into 668.30. If weakness accelerates, a deeper move toward 667.10 could emerge. These levels will gauge how much conviction buyers retain heading into Friday's session.
Invesco QQQ Trust Series 1 (QQQ)
QQQ begins the day at 611.25, where buyers will attempt to keep the index buoyant amid light catalysts. A hold above this area could push price into 612.40 and 613.55, with further continuation driving toward 614.70. Sustained bullish tone might lift QQQ into 615.90 and 617.00, signaling persistent appetite for large-cap tech.
If QQQ slips under 611.25, sellers could lean into 610.05. A loss of that zone opens the path to 608.80 and 607.60, with heavier selling taking the tape toward 606.35. If momentum snowballs, QQQ may test 605.10 before stabilizing. These zones often define where traders reload or scale risk depending on liquidity tone.
Apple Inc. (AAPL)
Apple trades at 257.50, with bulls aiming to build on recent strength. A push higher could send price into 258.45 and 259.35, with continued momentum bringing 260.25 into play. If demand holds steady, a broader extension toward 261.15 and 262.05 could follow. These steps upward show buyers maintaining control in one of the market's key leadership names.
If Apple fails to hold 257.50, look for a dip toward 256.60. A breakdown there could invite pressure into 255.65 and 254.75. If weakness persists, sellers may drive price into 253.85, with an extended slide possibly reaching 252.90. Each pullback will help measure buyer conviction as broader sentiment cools.
Microsoft Corp. (MSFT)
Microsoft opens at 524.85, where bulls are hoping to maintain a positive tone. A move above could drive price into 526.00 and 527.20, with additional follow-through lifting into 528.40. Continued strength may push toward 529.55, with an extended rally targeting 530.75. Each leg higher would show traders still favoring large-cap resilience even without data catalysts.
If 524.85 breaks, sellers could push into 523.55. A failure to stabilize there might send price into 522.35 and 521.15. If bearish pressure strengthens, Microsoft could fall toward 519.90, with deeper downside stretching into 518.70. These levels define where short-term buyers may reappear to prevent a larger unwind.
NVIDIA Corporation (NVDA)
NVIDIA starts at 192.00, with buyers eyeing a continuation of recent momentum. A rise above here could carry price into 193.05 and 194.10. Continued interest might push NVDA into 195.15, with follow-through aiming at 196.25 and a bullish extension into 197.30. Each progression upward suggests market confidence is returning to the chip sector.
If 192.00 fails to hold, sellers may target 190.95. A break here brings 189.85 and 188.80 into play, with further pressure pulling into 187.70. If weakness persists, the stock could test 186.60 before finding support. These stages mark where dip buyers may look for reentry opportunities in a name that often drives Nasdaq sentiment.
Alphabet Inc Class A (GOOGL)
Alphabet opens at 244.25, and buyers will aim to steady the tape after a choppy week. A push higher could lead to 245.15 and 246.10, with continued buying extending into 247.05. If momentum persists, price could climb toward 248.00 and 248.90. These levels illustrate how buyers are trying to rebuild confidence despite light participation.
If GOOGL breaks below 244.25, sellers could drive the tape into 243.25. Losing that level exposes 242.30 and 241.35, with added pressure targeting 240.40. A deeper pullback may reach 239.50 before stabilizing. These areas highlight potential liquidity traps where fast reversals can form.
Meta Platforms Inc (META)
Meta trades at 718.50, with bulls looking to build upon earlier gains. A move above could spark continuation into 720.65 and 722.80. If strength holds, META could climb into 724.95, with a bullish stretch testing 727.10 and 729.25. Each incremental gain demonstrates that buyers are still willing to chase momentum even as volume remains thin.
If 718.50 gives out, sellers may drag the stock into 716.40. Breaking there could lead to tests at 714.25 and 712.15. If pressure increases, downside may extend to 710.05 and potentially 707.90. These lower zones will show whether institutional flows remain supportive or if short-term traders dominate the session.
Tesla Inc. (TSLA)
Tesla opens at 433.00, where bulls will look to stabilize after recent volatility. A firm bid above could carry price into 434.60 and 436.20. If buyers stay aggressive, price may stretch into 437.75 and 439.35, with further strength reaching 440.95. Each step higher reflects improved sentiment in a stock that tends to lead risk rotation.
If Tesla slips below 433.00, sellers could aim for 431.45. A break here risks deeper movement into 429.85 and 428.25. If selling pressure persists, the stock could probe 426.70, with extended downside reaching 425.10. These levels will determine whether Tesla can find a foothold before the weekend.
Final word: Good luck and trade safely.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
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