How To Trade SPY, Top Tech Stocks Using Technical Analysis

Good Morning Traders!

Today features a light economic calendar once again. The focus will briefly shift north with Canada's September CPI report at 8:30 AM Eastern, though it is unlikely to have a meaningful impact on U.S. markets. Traders will also receive the Redbook Retail Sales update at 8:55 AM Eastern, offering a minor pulse check on consumer trends.

Federal Reserve Governor Christopher Waller will be in focus as he delivers remarks twice today, first at 9 AM Eastern and again at 3:30 PM Eastern. Market participants will listen for any comments regarding inflation or the Fed's rate path, especially with the U.S. CPI release looming on Friday.

With limited data and ongoing macro uncertainty, liquidity is expected to remain thin and volatility reactive. Traders should remain patient, avoid overtrading during slow periods, and stay alert for sharp price moves sparked by unexpected headlines or positioning shifts.

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

SPDR S&P 500 ETF Trust (SPY)

SPY opens at 671.50, where buyers are attempting to keep the index pinned near recent highs. A firm push above this level could lift price into 672.75 and 674.00, with further strength extending into 675.25. If momentum builds, SPY may press toward 676.55 and 677.80. Each step higher would confirm that buyers are maintaining control in a market still driven by liquidity and sentiment rather than data.

If SPY loses 671.50, sellers may aim to test 670.15. A breakdown here could lead to 668.85 and 667.55, with heavier pressure targeting 666.20. If weakness deepens, the tape may slide toward 664.90 before stabilizing. These levels will reveal whether buyers continue to defend support or step back to reassess ahead of Friday's CPI release.

Invesco QQQ Trust Series 1 (QQQ)

QQQ starts the morning at 611.50, with bulls looking to sustain upward momentum in tech. A move higher could carry price into 612.65 and 613.80, with continued strength driving into 614.95. If demand holds, QQQ may extend toward 616.10 and 617.25. Each push upward reinforces market confidence in large-cap leadership as traders wait for new catalysts.

If QQQ drops below 611.50, sellers may pull price into 610.25. A break here opens the door to 609.00 and 607.75, with continued weakness driving toward 606.45. If pressure persists, QQQ may test 605.20 before finding support. These zones will determine whether traders are buying dips or beginning to reduce exposure before key economic data later this week.

Apple Inc. (AAPL)

Apple opens at 261.75, and bulls will look to hold this zone to keep short-term sentiment positive. A rise above could send price into 262.70 and 263.65, with stronger momentum extending toward 264.55. If enthusiasm continues, Apple could climb into 265.50 and 266.45. Each incremental push higher would show sustained interest in megacap names despite the quiet macro backdrop.

If Apple slips below 261.75, sellers may look to test 260.80. A drop through here could lead to 259.85 and 258.90, with additional downside targeting 257.95. If weakness persists, the stock may reach 257.00 before stabilizing. These levels will be watched closely to see whether Apple's strong recent trend can continue without broader market support.

Microsoft Corp. (MSFT)

Microsoft begins the day at 517.00, where buyers will look to defend this level as a base for continuation. A push above could lift price into 518.25 and 519.55, with follow-through momentum driving into 520.80. If strength continues, MSFT could reach 522.10 and 523.40. Each leg higher reinforces the ongoing pattern of strength in large-cap tech even as market catalysts remain limited.

If MSFT loses 517.00, sellers may test 515.70. A break below here opens the path to 514.40 and 513.10, with heavier pressure possibly driving into 511.75. If weakness expands, MSFT could slip to 510.45 before rebounding. These levels help outline whether traders are positioning defensively or continuing to lean into long exposure.

NVIDIA Corporation (NVDA)

NVIDIA opens at 182.75, with bulls aiming to keep momentum alive following several indecisive sessions. A move higher could lift price into 183.85 and 184.95, with further upside driving into 186.05. If strength builds, NVDA may reach 187.10 and 188.20. Each level higher shows renewed appetite for semiconductor exposure despite limited data to fuel risk-taking.

If NVIDIA breaks below 182.75, sellers may test 181.65. A drop here could bring 180.55 and 179.45 into play, with deeper selling carrying into 178.35. If pressure intensifies, price could slide toward 177.25 before finding traction. These areas will be key for gauging whether dip buyers remain active in the face of quiet trading conditions.

Alphabet Inc Class A (GOOGL)

Alphabet starts the morning at 256.00, and buyers will look to sustain strength near this area. A rise above could lift price into 257.00 and 258.00, with momentum potentially carrying into 259.00. If buyers remain in control, GOOGL could extend toward 260.05 and 261.10. Each advance would signal continued accumulation in communication services names as investors stay patient for fresh macro data.

If GOOGL fails to hold 256.00, sellers may look to press price into 255.00. A break there could trigger a move into 254.00 and 253.00, with further weakness dragging into 252.05. If selling accelerates, GOOGL may touch 251.05 before stabilizing. These zones mark the key inflection points for short-term sentiment.

Meta Platforms Inc (META)

Meta opens at 736.00, where bulls are looking to extend recent gains. A push above here could drive price into 738.20 and 740.40, with continued momentum lifting into 742.55. If strength persists, META could reach 744.75 and 746.90. Each incremental rise suggests traders remain confident in the growth sector despite the slow macro week.

If META drops below 736.00, sellers may test 733.85. A break here opens the path to 731.70 and 729.55, with heavier pressure driving into 727.45. If weakness persists, price could slide toward 725.30 before finding footing. These levels will show whether buyers remain committed or begin trimming exposure ahead of CPI later this week.

Tesla Inc. (TSLA)

Tesla begins the day at 446.25, with buyers looking to maintain composure following a streak of range-bound sessions. A lift above could send price into 447.80 and 449.35, with further upside carrying into 450.90. If momentum holds, Tesla could advance into 452.45 and 454.00. Each move higher reinforces confidence that buyers are beginning to rebuild short-term control.

If Tesla slips below 446.25, sellers may push toward 444.70. A breakdown here opens the door to 443.15 and 441.60, with heavier pressure driving into 440.10. If selling continues, Tesla may reach 438.60 before stabilizing. These areas help outline where short-term support could attract responsive buying.

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.