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 767.00 as markets begin a relatively quiet post-FOMC week with very little scheduled data today. If buyers defend this level, a move toward 773.00 may develop, followed by 779.00 if momentum builds. Sustained strength above 785.00 would reinforce the short term bullish structure and suggest buyers remain comfortable adding exposure following last week's volatility.
If SPY loses 767.00 with conviction, sellers may press into 761.00. A breakdown there could expose 755.00, while continued weakness may bring the 749.00 region into focus. With few immediate macro catalysts, technical levels, Treasury yields, and post-FOMC positioning could have a greater influence on today's session.
Invesco QQQ Trust Series 1 (NASDAQ: QQQ)
QQQ is currently trading around 728.00 and continues to show improving momentum despite the higher rate environment. If buyers defend this pivot, price may advance toward 735.00, followed by 742.00 if momentum strengthens. Sustained strength above 749.00 would indicate continued institutional demand across technology.
If 728.00 fails to hold, sellers may drive price toward 721.50. A deeper breakdown could expose 715.00, while continued weakness may bring the 708.50 region into play. With the macro calendar relatively quiet, semiconductor participation and Treasury yields should provide important confirmation of any broader technology move.
Apple Inc. (NASDAQ: AAPL)
AAPL is currently trading around 336.50 and continues to demonstrate considerable relative strength. If buyers defend this pivot, price may rotate toward 341.75, followed by 347.00 if momentum builds. Sustained strength above 352.25 would reinforce the bullish short term structure.
If 336.50 breaks lower, sellers may test 331.50 quickly. Continued downside pressure could extend into 326.50, while deeper weakness may bring the 321.50 region into focus. Continued outperformance against QQQ would remain a constructive indication of institutional demand.
Microsoft Corp. (NASDAQ: MSFT)
MSFT is currently trading around 495.75 and remains directly underneath the psychologically important 500 level. If buyers reclaim and establish acceptance above that area, price may advance toward 503.00, followed by 510.25 if momentum builds. Sustained strength above 517.50 would materially improve the short term structure.
If 495.75 fails to hold, sellers may press into 488.75. A deeper pullback could test 481.75, while continued weakness may bring the 474.75 region into play. With few major catalysts today, the battle around 500 should remain one of the clearest near term sentiment gauges for MSFT.
NVIDIA Corporation (NASDAQ: NVDA)
NVDA is currently trading around 224.00 and remains an important leadership gauge for semiconductors and the broader technology complex. If buyers defend this pivot, a move toward 231.25 may develop, followed by 238.50 if momentum strengthens. Sustained trade above 245.75 would indicate continued upside expansion and stronger semiconductor participation.
If 224.00 fails to hold, sellers may test 218.00 quickly. Continued downside could extend into 212.00, while deeper weakness may bring the 206.00 region into focus. NVDA's ability to maintain momentum should remain an important confirmation signal for QQQ.
Alphabet Inc Class A (NASDAQ: GOOGL)
GOOGL is currently trading around 350.25 and continuing to improve after its extended period of relative weakness. If buyers defend this level, price may rotate toward 356.75, followed by 363.25 if momentum improves. Sustained strength above 369.75 would reinforce the developing recovery.
If 350.25 fails to hold, sellers may guide price toward 344.25. A breakdown there could expose 338.25, while continued weakness may bring the 332.25 region into play. Continued participation alongside QQQ would provide additional evidence that GOOGL's relative performance is improving.
Meta Platforms Inc (NASDAQ: META)
META is currently trading around 681.50 and remains one of the strongest mega cap names in the market. If buyers defend this pivot, a push toward 689.50 may develop, followed by 697.50 if momentum builds. Sustained strength above 705.50 would reinforce the bullish structure and continued institutional demand.
If 681.50 breaks lower, sellers may guide price toward 674.00. A deeper pullback could test 666.50, while continued weakness may bring the 659.00 region into focus. META's continued outperformance remains one of the stronger relative strength signals within large cap technology.
Tesla Inc. (NASDAQ: TSLA)
TSLA is currently trading around 369.75 and continues to maintain an improved short term structure following its recent recovery. If buyers defend this pivot, a move toward 378.25 may develop, followed by 386.75 if momentum continues. Sustained strength above 395.25 would reinforce bullish momentum and indicate continued speculative demand.
If 369.75 fails to hold, sellers may test 361.75 quickly. Continued downside pressure could extend into 353.75, while deeper weakness may bring the 345.75 region into play. With today's calendar extremely light, technical positioning and broader risk sentiment could have greater influence on TSLA.
Final Word: Today's economic calendar kicks off what should be a considerably quieter week for major U.S. macro data following last week's FOMC decision and quadruple witching. August Chicago Fed National Activity Index arrives at 8:30AM ET, followed by the Treasury's 3 and 6 Month Bill Auction at 11:30AM ET. With nothing on today's calendar carrying the potential impact of CPI, payrolls, or the Fed, the session may be driven primarily by Treasury yields, technical positioning, and the market's continued digestion of last week's rate hike.
Wednesday's September Flash S&P Global Manufacturing and Services PMIs are likely the week's cleanest read on current economic momentum and should receive meaningful attention. However, PMI is not literally the only noteworthy data this week. Thursday brings Weekly Jobless Claims and August New Home Sales, while Friday brings August Durable Goods Orders and the Final University of Michigan Consumer Sentiment report, including updated inflation expectations. None of those releases carries the same weight as an FOMC, CPI, or NFP session, but they can still influence yields and the growth outlook if the numbers materially surprise.
Overall, this looks like a relatively uneventful macro week, particularly compared with the major catalysts markets have worked through recently. That could shift more attention toward individual stock flows, Treasury yields, technical levels, and post-FOMC positioning. Wednesday's PMI data should be the primary scheduled macro checkpoint, but traders should still keep Thursday's labor and housing data and Friday's durable goods and sentiment figures on the radar. Good luck and trade safely!
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