Good Morning Traders!

Today's economic calendar kicks off the week with an extremely light schedule, leaving markets primarily driven by technicals, positioning, and broader sentiment. The only notable economic release comes at 10:00AM ET with Existing Home Sales, which may provide some insight into housing market conditions and consumer demand trends. 

Treasury activity continues throughout the session with 3 and 6 Month Bill Auctions at 11:30AM ET and a 3 Year Note Auction at 1:00PM ET. With limited macro catalysts and markets sitting near highs, traders should expect a more technically driven session where momentum and key levels are likely to dictate direction.

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

SPDR S&P 500 ETF Trust (SPY)

SPY is currently trading around 736.75 as markets begin the week holding near highs with very limited economic data on deck. If buyers defend this level early, a move toward 742.00 may develop, followed by 747.25 if momentum builds into the afternoon. Sustained strength above 752.50 would signal continued upside expansion driven by momentum and positioning flows. 

If SPY loses 736.75 with conviction, sellers may press into 731.75. A breakdown there could expose 726.75, and continued weakness may bring the 721.75 region into focus. Expect a more technically driven session without major catalysts.

Invesco QQQ Trust Series 1 (QQQ)

QQQ is currently trading around 711.25 and continues to lead as technology remains strong. If buyers defend this pivot, a push toward 717.50 may develop, followed by 723.75 if momentum builds. Sustained strength above 730.00 would indicate continued upside leadership in growth stocks. 

If 711.25 fails to hold, sellers may drive price toward 705.75. A deeper breakdown could expose 700.25, and continued weakness may bring the 694.75 region into play. Watch semiconductors closely for direction.

Apple Inc. (AAPL)

AAPL is currently trading around 293.50 and continuing its strong upside trend. If buyers defend this level, price may rotate toward 298.00, followed by 302.50 if momentum builds. Sustained strength above 307.00 would indicate continued institutional demand. 

If 293.50 breaks lower, sellers may test 289.00 quickly. Continued downside pressure could extend into 284.50, and deeper weakness may bring the 280.00 region into focus.

Microsoft Corp. (MSFT)

MSFT is currently trading around 410.75 and consolidating after recent volatility. If buyers defend this pivot, price may push toward 416.25, followed by 421.75 if momentum builds. A sustained move above 427.25 would signal renewed upside continuation. 

If 410.75 fails to hold, sellers may press into 405.75. A deeper pullback could test 400.75, and continued weakness may bring the 395.75 region into play.

NVIDIA Corporation (NVDA)

NVDA is currently trading around 214.25 and continuing to show strong momentum above the 200 level. If buyers defend this pivot, a move toward 220.75 may develop, followed by 227.25 if semiconductor momentum continues. Sustained trade above 233.75 would indicate strong upside expansion. 

If 214.25 fails to hold, sellers may test 208.75 quickly. Continued downside could extend into 203.25, and deeper weakness may bring the 197.75 region into focus.

Alphabet Inc Class A (GOOGL)

GOOGL is currently trading around 396.25 and consolidating after recent strength. If buyers defend this level, price may rotate toward 402.75, followed by 409.25 if momentum builds. Sustained strength above 415.75 would indicate continued upside participation. 

If 396.25 fails to hold, sellers may guide price toward 390.25. A breakdown there could expose 384.25, and continued weakness may bring the 378.25 region into play.

Meta Platforms Inc (META)

META is currently trading around 604.50 and continuing to lag relative to some mega cap peers. If buyers defend this pivot, a push toward 611.50 may develop, followed by 618.50 if momentum rebuilds. Sustained strength above 625.50 would indicate stronger recovery participation. 

If 604.50 breaks lower, sellers may guide price toward 597.50. A deeper pullback could test 590.50, and continued weakness may bring the 583.50 region into focus.

Tesla Inc. (TSLA)

TSLA is currently trading around 425.00 and showing strong speculative momentum after reclaiming key levels. If buyers defend this pivot, a move toward 433.50 may develop, followed by 442.00 if momentum builds. Sustained strength above 450.50 would indicate continued aggressive upside participation. 

If 425.00 fails to hold, sellers may test 417.50 quickly. Continued downside pressure could extend into 410.00, and deeper weakness may bring the 402.50 region into play.

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.