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 762.25 as markets head into the first of two major inflation releases with August PPI arriving alongside Jobless Claims at 8:30AM ET. If buyers defend this level following the initial reaction, a move toward 768.25 may develop, followed by 774.25 if momentum builds. Sustained strength above 780.25 would improve the short term structure and put buyers back in control.
If SPY loses 762.25 with conviction, sellers may press into 756.25. A breakdown there could expose 750.25, while continued weakness may bring the 744.25 region into focus. With CPI still coming tomorrow, today's PPI reaction may also be influenced by traders adjusting positions rather than making a final judgment on the inflation outlook.
The 30 Year Bond Auction at 1:00PM ET creates another potential volatility window. Treasury yields should remain an important confirmation signal both after PPI and during the afternoon auction.
Invesco QQQ Trust Series 1 (NASDAQ: QQQ)
QQQ is currently trading around 713.00 and remains particularly sensitive to today's inflation data because changes in Treasury yields can quickly impact growth stock valuations. If buyers defend this pivot, price may advance toward 720.00, followed by 727.00 if momentum strengthens. Sustained strength above 734.00 would indicate improving institutional demand across technology.
If 713.00 fails to hold, sellers may drive price toward 706.50. A deeper breakdown could expose 700.00, while continued weakness may bring the 693.50 region into play. Watch QQQ alongside Treasury yields and semiconductor participation after 8:30AM ET for confirmation of whether the initial PPI reaction has staying power.
Apple Inc. (NASDAQ: AAPL)
AAPL is currently trading around 317.75 and continues to hold relatively stable despite broader technology volatility. If buyers defend this pivot, price may rotate toward 323.00, followed by 328.25 if momentum builds. Sustained strength above 333.50 would reinforce the constructive short term structure.
If 317.75 breaks lower, sellers may test 312.75 quickly. Continued downside pressure could extend into 307.75, while deeper weakness may bring the 302.75 region into focus. Relative performance against QQQ should remain useful for evaluating institutional demand during today's macro volatility.
Microsoft Corp. (NASDAQ: MSFT)
MSFT is currently trading around 491.00 and remains below the psychologically important 500 level. If buyers defend this area, price may advance toward 498.00, followed by 505.00 if momentum builds. Sustained acceptance above 500 would materially improve the short term structure and suggest buyers are regaining control.
If 491.00 fails to hold, sellers may press into 484.00. A deeper pullback could test 477.00, while continued weakness may bring the 470.00 region into play. The reaction around 500 remains one of the clearest near term sentiment gauges for MSFT.
NVIDIA Corporation (NASDAQ: NVDA)
NVDA is currently trading around 222.00 and remains an important leadership gauge for semiconductors and the broader technology complex. If buyers defend this pivot, a move toward 229.25 may develop, followed by 236.50 if momentum strengthens. Sustained trade above 243.75 would indicate renewed upside expansion and stronger semiconductor participation.
If 222.00 fails to hold, sellers may test 216.00 quickly. Continued downside could extend into 210.00, while deeper weakness may bring the 204.00 region into focus. NVDA's sensitivity to rates makes today's PPI, tomorrow's CPI, and the resulting Treasury yield moves particularly relevant.
Alphabet Inc Class A (NASDAQ: GOOGL)
GOOGL is currently trading around 331.50 and continues to show relative weakness compared with several other mega cap technology names. If buyers defend this level, price may rotate toward 338.00, followed by 344.50 if momentum improves. Sustained strength above 351.00 would indicate a more meaningful recovery attempt.
If 331.50 fails to hold, sellers may guide price toward 325.50. A breakdown there could expose 319.50, while continued weakness may bring the 313.50 region into play. Continued underperformance during a broader QQQ rally would reinforce the presence of stock specific selling pressure.
Meta Platforms Inc (NASDAQ: META)
META is currently trading around 661.00 and continues to demonstrate significant relative strength after extending its recovery well above 600. If buyers defend this pivot, a push toward 669.00 may develop, followed by 677.00 if momentum builds. Sustained strength above 685.00 would reinforce the bullish structure and continued institutional demand.
If 661.00 breaks lower, sellers may guide price toward 653.50. A deeper pullback could test 646.00, while continued weakness may bring the 638.50 region into focus. META's continued outperformance against QQQ remains one of the stronger relative strength signals among the mega caps.
Tesla Inc. (NASDAQ: TSLA)
TSLA is currently trading around 363.50 and continues to maintain an improved short term structure following its recent recovery. If buyers defend this pivot, a move toward 372.00 may develop, followed by 380.50 if momentum continues. Sustained strength above 389.00 would reinforce bullish momentum and indicate continued speculative demand.
If 363.50 fails to hold, sellers may test 355.50 quickly. Continued downside pressure could extend into 347.50, while deeper weakness may bring the 339.50 region into play. With major inflation data arriving on consecutive mornings, TSLA could amplify broader risk-on or risk-off moves.
Final Word: Today's economic calendar brings us the highly anticipated August PPI report at 8:30AM ET, alongside Weekly Initial and Continuing Jobless Claims. Markets will receive headline PPI, PPI excluding Food and Energy, and PPI excluding Food, Energy and Trade, providing several views of producer level inflation. Traders will be looking for evidence that pipeline price pressures are continuing to moderate or beginning to reaccelerate, with Treasury yields likely to react quickly to any meaningful surprise.
Today's PPI is especially important because it serves as the opening act for Friday's CPI report, which will likely be the larger macro catalyst of the week. PPI can provide clues about cost pressures moving through the production pipeline, but CPI gives markets the more closely watched update on inflation reaching consumers. If today's PPI and tomorrow's CPI reinforce the same inflation narrative, the combination could produce a significant repricing in Treasury yields, the dollar, equities, and expectations for Federal Reserve policy. If they conflict, markets may remain unsettled as traders determine which signal deserves greater weight.
Beyond inflation, Existing Home Sales and Final Wholesale Inventories and Sales arrive at 10:00AM ET, followed by Natural Gas Inventories at 10:30AM ET and crude oil inventories at noon. Treasury activity also remains significant, culminating with the 30 Year Bond Auction at 1:00PM ET. That auction could create a second meaningful rates catalyst after markets have had several hours to digest PPI.
With CPI still one session away, traders should be careful about treating today's initial PPI reaction as the market's final verdict on inflation. Positioning may remain fluid throughout the session as investors prepare for Friday morning's more important consumer inflation report. Watch Treasury yields for confirmation, particularly after 8:30AM ET and again around the 30 Year auction, and expect inflation positioning to remain the dominant macro theme into tomorrow. Good luck and trade safely!
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.