Good Morning Traders! In today's RIPS 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 (NYSEARCA: SPY)
SPY is currently trading around 765.25, giving back part of Monday's rebound as higher oil prices add another concern for the broader market. The first repair is Monday's low at 765.82. If buyers reclaim that level and hold it on a pullback, price may recover toward the official close at 766.48, followed by Monday afternoon's low at 766.71. Recovering those nearby references would put price back inside yesterday's range rather than leaving the rebound below it.
If Friday's afternoon rebound high at 765.17 fails to hold, sellers may test Thursday's low at 764.43. Continued pressure could bring Friday's closing range high at 763.83 into focus. A return above 765.17 would weaken that immediate downside path. Today's housing reports can change the early direction, so watch whether technology and financial stocks support the same recovery instead of relying on strength in just one corner of the market.
Invesco QQQ Trust Series 1 (NASDAQ: QQQ)
QQQ is currently trading around 714.25, below Monday's low as technology gives back some of yesterday's recovery. Concerns about the cost of financing AI infrastructure remain part of the backdrop. If buyers recover Thursday's low at 715.44, price may work toward Friday's late morning low at 716.34. Monday's session low at 716.57 is the next nearby hurdle. That recovery needs to hold before treating the early weakness as a completed pullback.
If price cannot recover Friday's afternoon rebound high at 714.50, sellers may work toward the midday rebound high at 711.99, with the nearby low at 711.01 becoming relevant if pressure continues. Reclaiming 714.50 would interrupt that downside path. MSFT is holding up better than AAPL and META in the early snapshot. Watch whether more technology leaders begin joining it, because one strong heavyweight does not mean the rest of the group has stabilized.
Apple Inc. (NASDAQ: AAPL)
AAPL is currently trading around 339.00, below Monday's low while Britain's competition regulator proposes lower fees and broader access to Apple's contactless technology. These are proposals under consultation, not a completed rule change. If buyers reclaim Monday's low at 340.12, price may recover toward Friday's low at 340.46. The October 13 low at 340.74 is the next nearby reference, with buyers needing to protect recovered ground rather than immediately surrender it.
If price cannot recover the September 30 high at 339.50, sellers may test the 338.61 to 338.67 area formed by the October 9 and October 7 highs. Returning above 339.50 would weaken the immediate downside scenario. Apple is lagging MSFT this morning, so an improving QQQ alone is not enough. Look for Apple to recover its own nearby levels as well.
Microsoft Corp. (NASDAQ: MSFT)
MSFT is currently trading around 535.50, holding above Monday's close while several other large technology stocks pull back. The 535.57 to 535.70 area combines Monday's high with the October 12 low and is the first important test. If buyers clear that area and keep it underneath price on a pullback, the recovery may extend toward the October 9 high at 537.22. Friday's late morning rebound high at 537.50 is the next nearby hurdle.
If Monday's late rebound high at 534.78 fails to hold, sellers may test the earlier recovery high at 534.33. Further weakness could bring the official close at 533.52 back into play. Reclaiming 534.78 would weaken that downside path. Microsoft's relative strength is useful to watch, but it needs to survive the broader market's next pullback. An early move above resistance that quickly returns below it would leave buyers with more repair work to do.
NVIDIA Corporation (NASDAQ: NVDA)
NVDA is currently trading around 216.00, below Monday's close despite a fresh report of substantial Chinese demand. Reuters reports that ByteDance, Alibaba and Tencent placed RTX PRO 5500 orders valued above 35 billion US dollars, while available supply remains a constraint. If buyers reclaim Monday's early rebound high at 216.43, price may test the subsequent pullback low at 216.82. Holding that recovery could bring Monday's official close at 217.09 into focus.
If Monday's opening low at 215.76 fails to hold, sellers may test the following early low at 215.02, with the session low at 214.70 next if weakness continues. Returning above 215.76 would interrupt that downside path. Reported orders are not the same as completed deliveries or recognized revenue. Watch whether the stock can preserve a recovery through a pullback rather than assuming a favorable demand headline will outweigh the wider pressure on chip stocks.
Alphabet Inc Class A (NASDAQ: GOOGL)
GOOGL is currently trading around 343.25, below Monday's close as Google investigates disruptions affecting multiple Cloud services in its London region. That is a fresh operating headline, but its eventual financial impact is not yet established. If buyers reclaim Monday afternoon's low at 343.71, price may recover toward the official close at 344.18. Clearing that reference could bring the earlier midday low at 344.85 into play, provided buyers hold the ground they recover.
If Friday's afternoon rebound high at 342.83 fails to hold, sellers may test Monday's low at 341.85. Continued weakness could expose Thursday's low at 340.61. Returning above 342.83 would weaken that immediate downside scenario. Follow the company's service updates without assuming the disruption is already resolved or that it must cause a particular stock move. The useful price test is whether Alphabet can regain its own nearby levels while QQQ attempts to stabilize.
Meta Platforms Inc (NASDAQ: META)
META is currently trading around 698.50, extending its weakness below Monday's close with quarterly results due after the close tomorrow. Buyers first need to repair Monday morning's rebound high at 699.42. If price reclaims that level and holds it on a pullback, the afternoon low at 700.11 may come into focus. A recovery through that barrier could open a path toward the earlier midday low at 701.71. These nearby steps matter before looking for a return to yesterday's close.
If Monday's early pullback low at 697.00 fails to hold, sellers may test the subsequent low at 695.20. Further pressure could bring Monday's session low at 693.86 back into play. Reclaiming 697.00 would interrupt that downside path. With earnings approaching, avoid treating an early bounce as proof that the recent selling is finished. Watch whether META begins holding recovered levels and participating when the broader technology group improves.
Tesla Inc. (NASDAQ: TSLA)
TSLA is currently trading around 365.75, pulling back after Monday's recovery from 354.47 to a high of 369.58. The stock has already covered substantial ground, so the next test is whether buyers can preserve that progress. If price reclaims Monday's midday pullback low at 367.22, the official close at 368.06 may come into focus. Holding above that reference could bring Monday's high at 369.58 back into play, with a pullback that stays above recovered ground helping the upside case.
If price cannot recover Monday afternoon's low at 366.24, sellers may test the late morning pullback low at 365.11. Continued weakness could bring the earlier breakout high at 364.39 into view. Returning above 366.24 would weaken that immediate downside path. Tesla reports after the close on Wednesday, so today's rebound or pullback should not be confused with an earnings verdict. Let the stock show whether support is holding before assuming Monday's recovery will continue.
Final Word: Tuesday, October 20 brings housing starts and building permits at 8:30AM ET, followed by pending home sales at 10:00AM ET. ADP's weekly employment update is scheduled earlier at 8:15AM ET. These are upcoming releases, not published results. Housing construction and signed home contracts help show how higher borrowing costs are affecting demand. Stronger data can support the growth outlook while also keeping pressure on interest rate expectations, so watch how stocks and Treasury yields respond together. Stocks have a normal full trading session today.
Oil has rebounded overnight as reports of attacks on Saudi infrastructure and Gulf shipping add to supply concerns, while AI financing worries are weighing on technology again. More expensive energy can complicate the inflation picture even when other parts of the economy soften. The Fed is in its policy communications blackout, leaving economic data and company news as important sources of direction. MSFT's early resilience contrasts with weakness in AAPL and META, so the market is not moving as one group.
Watch participation, volume and whether more leading stocks join any recovery. A break that holds when price returns to the level is more useful than a quick move that immediately reverses. Meta and Tesla report after the close tomorrow, keeping important company catalysts close at hand. Keep today's genuine levels in view and avoid letting tomorrow's expectations replace what price is actually doing. Good luck, trade safely, and have a great Tuesday!
You can catch Rips every Monday through Friday at 8AM EST streaming live for FREE on YouTube at https://www.youtube.com/@RipsTrades and on Kick at https://kick.com/rips where he breaks down the markets in real time and helps traders level up.