How To Trade SPY, Top Tech Stocks Today Using Technical Analysis

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 presently trading near our important level of 628.31. Bulls are targeting an initial advance to 629.56. If momentum persists above 629.56, we anticipate buyers driving prices toward our next key support at 631.10. Should buyers confidently defend 631.10 throughout regular session trading, look for a continuation upward to 631.96, with our ultimate bullish target for the day sitting at 632.80. 

If bulls lose their grip at 628.31, sellers will aim for downside momentum, initially challenging the 627.25 level. Continued bearish pressure will put the 625.96 mark at risk. Breaking this level decisively could see SPY quickly trading down toward the strong support at 624.22. If selling intensifies dramatically, bears might reach our lowest target for the session at 622.67.

Invesco QQQ Trust Series 1 (QQQ)

The QQQ is currently trading near our pivotal level of 562.78. Bulls must firmly establish price action above this mark, subsequently securing 564.71 as reliable intraday support. Persistent bullish sentiment should then encourage further upside momentum, targeting the next resistance at 567.19. If today’s buying is robust, anticipate a stretch toward 570.57, with our top bullish objective for the QQQ standing at 573.87. 

Should QQQ fail to hold 562.78 convincingly during market hours, bears will seize control and push downward aggressively, first testing the 561.03 area. If weakness persists, expect a deeper selloff toward 559.89. Continued bearish dominance could trigger further downside pressure toward the support at 558.17. A breach here opens the door to our lowest bearish target of the day at 557.16.

Apple Inc. (AAPL)

Apple is trading near our crucial price level of 212.75. Bulls should aim to maintain this support, driving the stock upward initially toward 214.06. Sustained buying could elevate Apple to the next upside hurdle at 215.38. If bullish participants decisively dominate today’s trading, our high-end bullish target of 217.01 becomes attainable. 

If buyers fail to defend the critical level at 212.75, bearish sellers will quickly target 211.75 as their first destination. Continuation of selling momentum would bring Apple down to the next support zone at 210.87. A breakdown of that level might induce additional selling toward 210.12, with further weakness potentially reaching our lower bear target at 209.49.

Microsoft Corp. (MSFT)

Microsoft is currently trading near our highlighted level of 509.09. Bulls will first need to secure the area above 508.79, setting the stage for a move upward toward 510.99, which would then act as an intraday support. Holding firmly above 510.99 would position Microsoft for a bullish run toward 512.86, with sustained buyer participation likely pushing prices to our daily bullish target of 515.30. 

If 509.09 is not maintained, expect bears to swiftly challenge the 507.92 mark. Breaking below this support will encourage additional downside pressure, targeting 506.37. Should selling intensify, the next bearish objective becomes 504.85, ultimately opening a path toward our lowest bearish target for the session at 503.48.

NVIDIA Corporation (NVDA)

NVIDIA is currently trading around our critical level of 169.72. Bulls must push the price higher initially to reclaim and firmly establish support at 170.76. Continued upward momentum would then open a pathway to the next resistance point at 172.13. Strong buying throughout the day could drive NVIDIA further upward toward 173.47, with our top bullish target today placed at 175.13. 

If NVIDIA cannot hold above 169.72, expect bearish sellers to target a move lower initially toward 167.52. A breakdown here with notable selling volume could rapidly take prices down to 166.01. Further weakening could see bears testing 164.70, and continued downside momentum might ultimately push NVIDIA toward our daily bearish objective at 163.71.

Alphabet Inc Class A (GOOGL)

Alphabet is presently trading close to our significant level of 190.75. Bulls will first aim to firmly secure this area as intraday support, targeting a push higher toward resistance at 191.80. Strong bullish activity might then extend this rally to reach today’s ultimate bullish target of 193.67. 

If buyers are unable to protect 190.75, sellers will likely take control and aggressively test support lower at 189.64. If bearish sentiment intensifies, expect the auction to continue downward toward 188.53. Under heavy selling pressure, Alphabet could fall toward our low-end bearish objective of 186.80.

Meta Platforms Inc (META)

Meta is currently trading near our key level of 714.32. Bulls will look to establish firm price strength above 717.03, setting up the opportunity for further advances toward 718.98. Continued bullish conviction should then lift Meta toward the next resistance level at 721.62, with potential for buyers to drive price action toward our bullish target at 724.27. 

If Meta fails to maintain support at 714.32, sellers will immediately target a decline to the support level at 710.41. Continued bearish activity would encourage a further drop toward 707.95. Should this area fail to hold, increased selling might accelerate the move down toward our lowest bearish target of the session at 705.95.

Tesla Inc. (TSLA)

Tesla is currently trading around our significant price level of 328.57. Bulls should first target a move upward to 330.85, with continued buying momentum potentially lifting prices to the next resistance at 334.53. If market sentiment is strongly bullish today, Tesla may push higher toward 340.46, with our maximum bullish objective sitting at 342.71. 

If the support level at 328.57 is compromised, anticipate sellers moving swiftly to test lower prices around 326.73. Additional bearish pressure would likely bring Tesla down further to 324.89. Failure at this level with intensified selling could prompt further downside to our daily bearish target of 323.50.

Final Word: Today’s economic calendar remains exceptionally sparse, continuing the trend of limited catalysts that could keep trading ranges tighter than usual. At 8:30 AM ET, the Philly Fed Non-Manufacturing Activity Index for July will be released, providing regional insights into service sector performance and potential shifts in business sentiment outside manufacturing. 

Following at 10:00 AM ET, expect the Richmond Fed Manufacturing Index and Business Conditions report, offering a view into mid-Atlantic factory activity and broader operational trends that might subtly influence economic perceptions. 

On the speaker front, Fed Chair Jerome Powell is set to appear at 8:30 AM ET. Given the ongoing blackout period ahead of policy meetings, comments on future rate decisions are improbable, though tensions with the Trump administration could prompt unconventional remarks. Additionally, voting member Fed Governor Michelle Bowman will speak at 1:00 PM ET, potentially touching on key issues without violating blackout norms. Approach the session with measured expectations, monitor for any surprises, and prioritize sound risk management. 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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