How To Trade SPY And Top Tech Stocks Using Technical Analysis

Good Morning Traders!

Today’s economic calendar unfolds with a sparse lineup punctuated by a few key moments. After early market insights from Fed’s John Williams, the day remains quiet until 1:00 PM ET, when the Treasury's 5-Year Note Auction will gauge mid-term debt demand, possibly influencing yield trends.

Larger market participants may position ahead of NVDA's earnings after the New York close, adding a layer of focus. With minimal economic data, expect volatility driven by breaking news headlines. Stay sharp and employ risk management tools like stop-losses to navigate the session safely.

Now, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.

SPDR S&P 500 ETF Trust SPY

SPY is currently grounded at 645.50, a resilient support shaped by recent market flows, providing a sturdy base for bullish action. The plan is to climb toward 646.75, a resistance that has held strong in past upward moves, catching trader attention. If it breaks past 646.75 with steady momentum, buyers might push it to 648.29, a level reinforced by earlier volume peaks. Should this hold firm through the session, anticipate a rise to 649.15, with our top target fixed at 649.99 for the day.

On the flip side, if 645.50 starts to erode under selling pressure, bears could challenge 644.44, a pivot with a history of role shifts. Growing bearish momentum might target 643.15, a key threshold. A break below could slide it to 641.41, where past support has often appeared, and a vigorous sell-off with heavy volume might drag it to 639.86, our lowest mark.

Invesco QQQ Trust Series 1 (QQQ)

QQQ is nestled at 573.50, a central point that has drawn steady price action in recent sessions, acting as a pivotal hub. Bulls are ready to take charge, aiming for 575.43 as a robust intraday support with a legacy of past gains. If the upward trend gains traction, the next resistance at 577.91 comes into play, a barrier with historical tests. With brisk buying today, it could ascend to 581.29, setting our highest target at 584.59.

Should 573.50 weaken during regular hours, bears might test 571.75, a prior rebound spot. If softness persists, it could retreat to 570.61, a historical buffer. If bearish control strengthens, the price may dip to 568.89, and a break there could expose 567.88, our deepest bearish goal.

Apple Inc. (AAPL)

Apple is positioned at 229.50, a durable support formed by recent market shifts, offering a reliable launchpad. Bulls are determined to guard this and push toward 230.81, a resistance that has toggled roles in past cycles. If it breaks with momentum, aim for 232.13, a notable obstacle. Strong buying could elevate it to 233.76, our top target.

If 229.50 starts to falter, bears may target 228.50, a previous level with some depth. Rising sell pressure could pull it to 227.62, a tested zone. A breach below might spark a drop to 226.87, and further weakness could hit 226.24, our lowest bearish mark.

Microsoft Corp. (MSFT)

Microsoft is based at 504.50, a significant support that has absorbed recent market jolts, providing a stable foundation. Bulls are set to fortify this and advance to 506.70, a point backed by volume from past trades. If it climbs above 506.70, the stock could reach 508.57, a resistance with bounce history. Consistent buying might carry it to 511.01, our daily peak.

Should 504.50 begin to slip, bears might test 503.33, a prior hold with some resilience. Further pressure could strike 501.78, a support area. A break might fall to 500.26, and intensified selling could drop it to 498.89, our bottom target.

NVIDIA Corporation (NVDA)

NVDA is situated at 183.50, a key level that has piqued recent trader interest, establishing a strategic base. Bulls are focused on securing this and targeting 184.54, a support with a history of firmness. If the upward trend strengthens, push to 185.91, a resistance tested earlier. Vigorous buying could raise it to 188.91, our highest mark.

If 183.50 can't hold, bears might aim for 181.30, a prior dip with weight. A breakdown with solid volume could sink to 179.79, a past level. Further decline might challenge 178.48, and sustained selling could reach 177.49, our lowest target.

Alphabet Inc Class A (GOOGL)

Google is fixed at 207.50, a support with a legacy of role flips, offering a firm footing. Bulls plan to cement this and rise to 208.55, a resistance with past relevance. If it breaks, target 210.42, a higher barrier. Strong buying could stretch to 212.42.

If 207.50 softens, bears may hit 206.39, a prior support. Rising pressure could pull to 205.28, a tested zone. Heavy selling might drag it to 203.55, our lowest mark.

Meta Platforms Inc (META)

META is braced at 753.50, a solid base from recent sessions, providing a stable launchpad. Bulls target 756.21, a resistance with bounce potential. If it holds, aim for 758.85. Robust buying could lift to 761.50.

If 753.50 wavers, bears might test 749.59, a past support. More selling could drop to 747.13. A break may sink to 745.13, our bottom target.

Tesla Inc. (TSLA)

Tesla is set at 352.50, a significant level with recent activity, laying a groundwork. Bulls aim to push to 354.78, a resistance with past strength. If it holds, target 358.46. Strong buying could rise to 364.39.

If 352.50 weakens, bears may test 350.66, a prior dip. Further pressure could drop to 348.82, a support zone. Heavy selling might hit 347.43, our lowest target.

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.