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 770.75 as markets close out the week with durable goods, consumer sentiment, and several Fed speakers on deck. If buyers defend this level, a move toward 776.75 may develop, followed by 782.75 if momentum builds. Sustained strength above 788.75 would reinforce the short term bullish structure and suggest buyers remain comfortable adding exposure into the weekend.
If SPY loses 770.75 with conviction, sellers may press into 764.75. A breakdown there could expose 758.75, while continued weakness may bring the 752.75 region into focus. With the key data concentrated at 8:30AM and 10:00AM ET, traders should watch Treasury yields and market breadth for confirmation of whether any initial move can hold.
Invesco QQQ Trust Series 1 (NASDAQ: QQQ)
QQQ is currently trading around 746.50 and continues to show strong momentum as technology remains a major source of market leadership. If buyers defend this pivot, price may advance toward 753.50, followed by 760.50 if momentum strengthens. Sustained strength above 767.50 would indicate continued institutional demand across growth stocks.
If 746.50 fails to hold, sellers may drive price toward 740.00. A deeper breakdown could expose 733.50, while continued weakness may bring the 727.00 region into play. Rate sensitivity remains important, particularly with Michigan inflation expectations and several Fed speakers capable of influencing Treasury yields.
Apple Inc. (NASDAQ: AAPL)
AAPL is currently trading around 336.00 and continues to hold a constructive structure near recent highs. If buyers defend this pivot, price may rotate toward 341.25, followed by 346.50 if momentum builds. Sustained strength above 351.75 would reinforce the bullish short term structure.
If 336.00 breaks lower, sellers may test 331.00 quickly. Continued downside pressure could extend into 326.00, while deeper weakness may bring the 321.00 region into focus. Relative performance against QQQ should remain useful for evaluating institutional demand.
Microsoft Corp. (NASDAQ: MSFT)
MSFT is currently trading around 498.25 and remains directly beneath the psychologically important 500 level. If buyers reclaim and establish acceptance above that area, price may advance toward 505.25, followed by 512.25 if momentum builds. Sustained strength above 519.25 would materially improve the short term structure.
If 498.25 fails to hold, sellers may press into 491.25. A deeper pullback could test 484.25, while continued weakness may bring the 477.25 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 226.25 and remains an important leadership gauge for semiconductors and the broader technology complex. If buyers defend this pivot, a move toward 233.50 may develop, followed by 240.75 if momentum strengthens. Sustained trade above 248.00 would indicate continued upside expansion and stronger semiconductor participation.
If 226.25 fails to hold, sellers may test 220.25 quickly. Continued downside could extend into 214.25, while deeper weakness may bring the 208.25 region into focus. NVDA's participation should remain an important confirmation signal for any broader QQQ move.
Alphabet Inc Class A (NASDAQ: GOOGL)
GOOGL is currently trading around 343.75 and continues attempting to rebuild momentum after its recent weakness. If buyers defend this level, price may rotate toward 350.25, followed by 356.75 if momentum improves. Sustained strength above 363.25 would reinforce the recovery.
If 343.75 fails to hold, sellers may guide price toward 337.75. A breakdown there could expose 331.75, while continued weakness may bring the 325.75 region into play. Relative performance remains important given GOOGL's inconsistent participation compared with several other mega cap names.
Meta Platforms Inc (NASDAQ: META)
META is currently trading around 773.00 and continues to demonstrate exceptional relative strength after extending its recent advance. If buyers defend this pivot, a push toward 781.00 may develop, followed by 789.00 if momentum builds. Sustained strength above 797.00 would reinforce the bullish structure and continued institutional demand.
If 773.00 breaks lower, sellers may guide price toward 765.50. A deeper pullback could test 758.00, while continued weakness may bring the 750.50 region into focus. META remains one of the strongest relative performers within large cap technology.
Tesla Inc. (NASDAQ: TSLA)
TSLA is currently trading around 382.50 and continues to maintain strong momentum within its recent recovery. If buyers defend this pivot, a move toward 391.00 may develop, followed by 399.50 if momentum continues. Sustained strength above 408.00 would reinforce bullish momentum and indicate continued speculative demand.
If 382.50 fails to hold, sellers may test 374.50 quickly. Continued downside pressure could extend into 366.50, while deeper weakness may bring the 358.50 region into play. With the macro calendar moderate, broader risk appetite and technical positioning could have greater influence on TSLA.
Final Word: Today's economic calendar closes out the week with a few notable releases focused on business investment and consumer sentiment. Preliminary August Durable Goods Orders arrive at 8:30AM ET alongside Ex-Transportation and the underlying nondefense capital goods measures. Those capital goods figures provide a cleaner look at corporate investment and can offer useful insight into whether businesses are continuing to spend despite the higher rate environment.
At 10:00AM ET, Final University of Michigan Sentiment, Current Conditions, Expectations, and both one-year and five-to-ten-year inflation expectations provide the day's second meaningful data window. The inflation expectation components should be particularly worth watching following the Fed's recent rate hike, as any meaningful move higher could influence Treasury yields and expectations for additional tightening.
Fed commentary also remains part of today's backdrop, with John Williams, Jeffrey Schmid, and Beth Hammack speaking throughout the session. With markets still working through the implications of tighter policy, traders will be listening for any additional guidance on inflation, financial conditions, and the likelihood of further rate increases. Kansas City Fed Services Activity at 11:00AM ET rounds out the scheduled economic releases.
Overall, today's calendar is meaningful but not especially heavy. The clearest volatility windows should come around the 8:30AM durable goods data and the 10:00AM Michigan report, while Fed commentary could influence rates at various points throughout the day. As markets head into the weekend, watch Treasury yields, technology breadth, and whether recent momentum can survive any late-week positioning or profit taking. Good luck, trade safely, and have a great weekend!
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