Good Morning Traders!
Today closes out a historic week that combined a Fed rate cut, a surprise U.S.–China trade agreement, and heavyweight tech earnings. While the macro calendar is light today, the tape will remain active as traders digest AMZN and AAPL results and as end-of-month flows from large institutions influence direction.
With few economic catalysts, price action will likely be driven by positioning adjustments, options flows, and continued reaction to earnings outcomes. Expect sporadic volume spikes and whippy ranges as liquidity thins into the weekend.
Keep focus on your levels and risk exposure as month-end volatility fades into November.
Now, we will discuss SPY, QQQ, AAPL, MSFT,VDA, GOOGL, META, and TSLA.
SPDR S&P 500 ETF Trust (SPY)
SPY opens at 684.75 to wrap up a high-volatility week dominated by rate cuts, earnings, and global developments. Buyers will look to stabilize above this level, with an early lift into 686.15 and 687.50 likely if momentum holds. Continued strength could drive price toward 688.85 and 690.25, with end-of-month rebalancing flows potentially fueling higher intraday volatility. If buyers stay aggressive, SPY may test 691.60 before broader markets cool off into the weekend.
If SPY slips below 684.75, sellers could push into 683.35 and 681.95, where buyers will be tested. A failure to hold these zones might trigger further downside into 680.55 and 679.15, with deeper pressure reaching 677.75. These areas will show whether traders are squaring risk into month-end or positioning early for next week's macro catalysts.
Invesco QQQ Trust Series 1 (QQQ)
QQQ starts at 633.75 following a mixed reaction to mega-cap tech earnings. If bulls can regain control, an early push into 635.25 and 636.75 may develop, with stronger flows lifting toward 638.20 and 639.70. Continued optimism could carry price toward 641.25 as traders reposition after Thursday's volatility.
If 633.75 gives way, sellers may drag price into 632.25 and 630.75. A continued drop could reach 629.20 and 627.70, with heavier weakness extending into 626.15. These levels will indicate whether institutions are lightening exposure after the week's major catalysts or maintaining risk into November.
Apple Inc. (AAPL)
Apple opens at 276.75, digesting last night's earnings release. Bulls will try to hold this zone and push toward 277.90 and 279.05, with stronger buying lifting price into 280.20 and 281.35. If enthusiasm builds, Apple could reach 282.55 before stabilizing. These upside levels will show if investors are buying into Apple's longer-term narrative despite short-term guidance caution.
If Apple loses 276.75, price could slide toward 275.55 and 274.40. A break here might lead to 273.25 and 272.10, with a deeper fade probing 270.95. These reactions will reveal whether the post-earnings move draws dip buyers or if sentiment remains muted heading into November.
Microsoft Corp. (MSFT)
Microsoft starts the session at 527.50, looking to maintain footing after a strong week. A push higher could bring 528.85 and 530.20 into view, with further momentum targeting 531.60. If bullish sentiment holds, MSFT may extend to 533.00 and possibly 534.40 as investors continue rotating toward defensive tech.
If 527.50 fails, sellers may press into 526.10 and 524.75, with a break there opening 523.35. Continued weakness could drive price toward 521.95 and 520.55 before finding footing. These areas will show whether short-term traders are booking profits into month-end or still chasing strength in high-quality names.
NVIDIA Corporation (NVDA)
NVIDIA opens at 206.75, where bulls will look to reclaim leadership within the semiconductor space. A rise above could push price toward 208.00 and 209.25, with continued momentum stretching into 210.55. If risk appetite holds steady, NVDA could test 211.80 and 213.05 before fading.
On the downside, a move below 206.75 could trigger selling toward 205.50 and 204.25. If this area fails, price may retreat into 203.00 and 201.75, with deeper pressure reaching 200.55. These levels will be key for gauging whether traders remain confident in chips or prefer to de-risk heading into November.
Alphabet Inc Class A (GOOGL)
Alphabet opens at 284.75 as traders digest its earnings response and broader tech sentiment. A push higher could bring 286.05 and 287.35 into focus, with added strength lifting into 288.65. If momentum builds, GOOGL may stretch toward 289.95 and 291.25. Each step higher will signal that buyers are defending strong fundamentals despite mixed market tone.
If GOOGL drops under 284.75, sellers may test 283.40 and 282.05, with further downside leading to 280.70 and 279.35. A deeper decline could reach 278.00 if volatility returns to the sector. These moves will show whether traders are locking profits into strength or positioning for another rotation next week.
Meta Platforms Inc (META)
Meta opens at 674.00 after an explosive week in big tech. A hold above this level could see price lift into 676.20 and 678.40, with extended strength reaching 680.65. If enthusiasm continues, META could climb toward 682.85 and 685.10. Buyers maintaining control at these levels would confirm that sentiment around ad growth remains firm.
If META slips below 674.00, sellers may press into 671.75 and 669.55. A break here could lead to 667.35 and 665.10, with deeper pressure taking the stock toward 662.90. These zones highlight where short-term momentum may cool as traders digest recent strength.
Tesla Inc. (TSLA)
Tesla opens at 444.50, with buyers trying to stabilize the stock after a volatile week. A move higher could lift price into 446.10 and 447.70, with additional momentum pushing into 449.25. If risk appetite improves, Tesla could extend to 450.85 and 452.45 before settling.
If Tesla fails to hold 444.50, sellers may drag price into 442.90 and 441.35, with deeper pressure reaching 439.80. A heavier fade could bring 438.25 and 436.75 into play. These levels will reflect whether traders are fading strength or continuing to build positions ahead of next week's data.
Final Word: Happy Halloween, trade smart, and finish the week strong.
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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