How To Trade SPY, Top Tech Stocks Using Technical Analysis

Good Morning Traders!

Today begins with the release of the Empire Manufacturing data at 8:30 AM ET which is one of the few economic prints not impacted by the government shutdown. This report can influence short-term sentiment, especially around industrials and the broader growth outlook.

The main focus, however, will be on the long list of Fed speakers. Stephen Miran appears twice, starting with a CNBC forum at 9:30 AM ET and later at 12:30 PM ET, while Raphael Bostic and Christopher Waller will share views on economic priorities and fintech policy midday. Kansas City Fed's Jeffrey Schmid will close the schedule with remarks at 1:35 PM ET.

With little fresh economic data and multiple Fed speakers on deck, expect volatility tied to tone and wording around inflation and rate expectations. Traders should anticipate choppy price action as liquidity remains patchy. Stay flexible, possibly look to fade extremes, and respect your risk parameters.

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

SPDR S&P 500 ETF Trust (SPY)

SPY opens at 666.50, where bulls are looking to stabilize and build on last week's resilience. A push above this level could lift price into 667.70 and 668.90, with further momentum targeting 670.10. If buyers remain active, SPY may stretch into 671.30 and 672.50, showing continued appetite for risk despite macro uncertainty. Each step higher will test whether traders are comfortable holding ahead of upcoming Fed remarks.

If SPY loses grip on 666.50, sellers could quickly press into 665.25. A break here opens the door to 664.00 and 662.75, with continued weakness exposing 661.55. If pressure builds, a move toward 660.30 could follow. These zones will be watched closely for potential dip buying in what's expected to be a reactive session.

Invesco QQQ Trust Series 1 (QQQ)

QQQ begins the session at 603.00, with buyers attempting to maintain control in the face of muted catalysts. A lift above here could carry price into 604.15 and 605.35, with strength possibly extending toward 606.55. Continued upside could bring 607.75 and 608.90 into play, reflecting steady tech-sector confidence. Each move upward will depend on whether risk appetite holds during light-volume trade.

If 603.00 breaks, sellers may look to pull price into 601.80. A loss here could drive the index toward 600.55 and 599.35, with heavier pressure extending into 598.10. If momentum accelerates, QQQ may test 596.85 before stabilizing. These levels define where traders could see sharp intraday swings if liquidity thins.

Apple Inc. (AAPL)

Apple trades at 248.75, where bulls are aiming to firm up short-term sentiment. A hold above this zone could drive price into 249.70 and 250.65, with continued momentum pushing toward 251.55. If buying persists, Apple could climb into 252.45 and 253.40. Each higher test reinforces the potential for constructive positioning ahead of the next data cycle.

If Apple falls under 248.75, sellers may press into 247.80. A decisive move below could trigger a drop into 246.85 and 245.95, with deeper pressure reaching 245.00. If weakness continues, a slide into 244.10 could develop. These areas are key for buyers looking to defend the stock's recent recovery trend.

Microsoft Corp. (MSFT)

Microsoft opens at 514.25, with bulls looking to defend strength after a steady grind higher. A push into 515.50 could attract momentum buyers, driving price toward 516.75 and 518.00. If strength continues, MSFT may reach 519.25 and 520.50, showing traders' preference for stability in mega-cap names.

If 514.25 breaks, sellers could pull price into 513.00. A drop here may open the path to 511.75 and 510.55, with heavier downside pressure reaching 509.30. If weakness expands, the tape could test 508.05. These zones are likely to define where short-term buyers look to fade intraday weakness.

NVIDIA Corporation ( NVDA)

NVIDIA starts the session at 183.75, with buyers attempting to keep the chip giant anchored. A move above here could carry price into 184.85 and 185.95, followed by an advance into 187.05. Continued enthusiasm may lift NVDA into 188.10 and 189.20, signaling ongoing confidence in the sector's leadership.

If 183.75 gives way, sellers may test 182.65. A break here opens the path to 181.55 and 180.45, with further weakness dragging the tape toward 179.40. If momentum snowballs, NVDA could slide into 178.30 before stabilizing. These levels will indicate how committed buyers are as volatility picks up.

Alphabet Inc Class A (GOOGL)

Alphabet trades at 246.00, with bulls hoping to sustain positive tone early in the week. A push higher could carry price into 246.90 and 247.80, with continued strength extending toward 248.75. If buyers persist, the stock could rally into 249.70 and 250.60. Each progressive move upward signals quiet accumulation in a market still short on catalysts.

If GOOGL loses 246.00, sellers could press into 245.00. A break there may bring 244.05 and 243.10 into play, with additional weakness targeting 242.15. If pressure accelerates, the tape could test 241.20 before stabilizing. These areas are key for identifying potential base-building zones.

Meta Platforms Inc (META)

Meta opens at 713.50, and bulls will try to sustain recent strength. A move higher could push the stock into 715.70 and 717.90, with momentum potentially extending into 720.10. Continued upside may bring 722.30 and 724.55 into focus, showing renewed confidence in growth-heavy sectors.

If META loses 713.50, sellers could aim for 711.30. A break here exposes 709.10 and 706.90, with deeper pressure driving toward 704.75. If the pullback intensifies, price could reach 702.55 before stabilizing. These zones will show how much conviction remains in recent gains.

Tesla Inc. (TSLA)

Tesla opens at 434.25, where bulls are trying to stabilize the stock following choppy trade. A rise above this area could carry price into 435.90 and 437.55, with sustained buying lifting it toward 439.20. If momentum builds, Tesla may stretch into 440.85 and 442.55. Each level higher reinforces trader optimism ahead of upcoming earnings chatter.

If Tesla slips below 434.25, sellers could press into 432.70. A breakdown there may pull the stock toward 431.15 and 429.60, with heavier selling testing 428.00. If pressure persists, Tesla could dip to 426.50 before stabilizing. These downside stages show where buyers may try to catch reversals in a thinly traded market.

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.