RIPS Morning Memo - November 2nd, 2026 (Trade Strategy For NQ, ES, SPY, QQQ, AAPL, MSFT, AMZN, NVDA, GOOGL, META, and TSLA)

Good Morning Traders! In today's Morning Memo, we will discuss NQ, ES, SPY, QQQ, AAPL, MSFT, AMZN, NVDA, GOOGL, META, and TSLA.

Our proprietary formula, exclusive to RIPS, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with our community, 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:

E-mini Nasdaq-100 Futures (CME: NQ)

NQ is currently trading around 28753.25 after Friday's heavy selloff, sitting inside a prior session range of 29180.00 on the high and 28232.75 on the low. The dealer gamma flip works out near 29173.00, and with price well below it, ranges have tended to run wider and moves can travel further, so expect a lively tape rather than a quiet grind. The level Rips is watching on air is his line in the sand, the bid support between 28729.75 and 28749.75, which price is testing right now. Rips trades NQ live at 8AM ET, so tune in to see how he plays the open.

E-mini S&P 500 Futures (CME: ES)

ES is currently trading around 7649.25, recovering a little after Friday's slide that set a prior session high of 7713.00 and a low of 7558.25. The dealer gamma flip converts to roughly 7690.50, and with price trading beneath it, sessions have tended to swing wider, which means both bounces and drops can stretch further than usual. The level Rips is watching on air is the bid support at Friday's low, between 7558.25 and 7563.25, the strongest buyer area below price. Catch the live show at 8AM ET for the full market read as the cash session opens.

SPDR S&P 500 ETF Trust (NYSEARCA: SPY)

SPY is currently trading around 759.50, bouncing after Friday's drop that closed the session at 755.72. The first test overhead is Friday's high at 761.46. If buyers reclaim that level and hold it, price may work back toward 766.62, Thursday's low, where the selling really accelerated. Getting back above that area would tell us Friday was more of a shakeout than the start of a deeper move.

If the bounce fades, watch Friday's close at 755.72 first. A break below there that cannot recover opens the door back to Friday's low at 750.36, where buyers stepped in last week. Losing that low would put sellers firmly in control of the broader market. Friday's volume was nearly double the prior sessions, so traders should watch whether this morning's recovery attracts real participation or drifts on thin trade ahead of the ISM report.

Invesco QQQ Trust Series 1 (NASDAQ: QQQ)

QQQ is currently trading around 696.25, clawing back part of Friday's steep loss that left it at 690.49. The nearest hurdle is Friday's high at 698.63. If buyers reclaim that level and keep it, there is room toward the gap area that opens up beneath Thursday's low at 711.62, although that is a big stretch for one session. A firm hold above 698.63 would be the first sign that tech buyers are returning.

If price slips back, Friday's close at 690.49 is the first test. A break below there that cannot recover points toward Friday's low at 683.45, the bottom of the selloff. A return above 698.63 would weaken that downside scenario quickly. Friday traded more than twice the volume of the earlier sessions, so this level of activity shows how seriously sellers pressed, and buyers now need to prove they can hold the bounce through the morning.

Apple Inc. (NASDAQ: AAPL)

AAPL is currently trading around 343.75, slightly below Friday's close of 344.63 while most of the group trades higher. If buyers reclaim 344.63 and hold it, price may revisit Friday's high at 349.19, with Thursday's high at 351.43 the next reference above. Getting through both would put Apple back near the top of its recent range and show leadership returning.

On the downside, the first area to watch is 341.03, the low from last Monday. If price breaks below there and cannot recover, Friday's sharp intraday low at 334.35 comes into view, where buyers stepped in aggressively and drove a strong rebound. A return above 344.63 would weaken the downside case. Apple is lagging the rest of the Mag 7 in early trading, so it is worth watching whether it catches up or keeps dragging on the Nasdaq.

Microsoft Corp. (NASDAQ: MSFT)

MSFT is currently trading around 524.25, recovering from Friday's slide that closed at 521.91. The first level overhead is Friday's high at 526.00. If buyers push through and hold above it, price may work toward 534.70, last Tuesday's high, which marks the upper part of the range Microsoft held most of last week. That would put the stock back in familiar territory.

If the bounce stalls, Friday's close at 521.91 is the first support to watch. A break below there that cannot recover could send price back to Friday's low at 514.35, the weakest print in recent sessions. A return above 526.00 would weaken that downside scenario. Microsoft has been trading in a tighter range than many of its peers, so a clean move out of 514.35 to 526.00 could set the tone for the rest of the week.

Amazon.com Inc. (NASDAQ: AMZN)

AMZN is currently trading around 242.25, already above Friday's high of 241.55 after a session where buyers rescued the stock from a deep early drop. If buyers defend this area, price may push toward Thursday's high at 249.14, where the previous selling began. Holding above 241.55 keeps the recovery from Friday's low in play and shows buyers are still in charge of this bounce.

If price slips back below 241.55 and cannot recover, Friday's close at 240.35 is the next test. Losing that opens a much larger air pocket toward Friday's low at 229.36, so the downside here can move fast. A return above 241.55 would weaken that scenario. Amazon has traded heavy volume over the last two sessions, so this is one of the more active names to track as the open approaches.

NVIDIA Corporation (NASDAQ: NVDA)

NVDA is currently trading around 207.25, one of the stronger Mag 7 names this morning after Friday's steep drop to a close of 204.64. The first level overhead is Friday's high at 209.06. If buyers reclaim it and hold, price may stretch toward 212.08, Thursday's low, where the selloff accelerated. Clearing that would show real repair after a rough week.

If the bounce fades, Friday's close at 204.64 is the first support. A break below there that cannot recover points back to Friday's low at 200.92, close to the round 200 area that traders will be watching. A return above 209.06 would weaken the downside case. Friday's volume was about double recent sessions, so Nvidia's ability to hold this morning's gain matters for the whole Nasdaq and NQ.

Alphabet Inc Class A (NASDAQ: GOOGL)

GOOGL is currently trading around 282.75, steadying after last week's sharp drop from the 320s. The first test is Friday's high at 283.14, right overhead. If buyers reclaim that level and hold it, price may work toward Thursday's high at 288.33, the top of the post drop range. That would show buyers are willing to step back in after the big repricing.

On the downside, the first reference is Thursday's low at 280.36, followed by Friday's close at 279.84. If price breaks below those and cannot recover, Friday's low at 276.92 is the next stop and the bottom of the recent range. A return above 283.14 would weaken that scenario. Alphabet is still digesting Thursday's huge volume day, so watch whether this tighter range resolves higher or lower.

Meta Platforms Inc (NASDAQ: META)

META is currently trading around 613.00, slightly below Friday's close of 614.99 and lagging the group this morning. If buyers reclaim 614.99 and hold it, price may revisit Friday's high at 626.37, where sellers turned it back last session. Getting through that would put Meta back toward the middle of last week's range.

If price stays weak, Friday's low at 610.13 is the first support, with last Wednesday's low at 609.00 just beneath it. A break below both that cannot recover would put Meta at its lowest level of the recent pullback and could invite further selling. A return above 614.99 would weaken that downside scenario. Friday's volume was the lightest of the week for Meta, so a pickup in participation today would help clarify direction.

Tesla Inc. (NASDAQ: TSLA)

TSLA is currently trading around 403.00, a little above Friday's close of 399.81 after buyers recovered a weak open last session. The first level overhead is Friday's high at 404.22. If buyers reclaim it and hold, price may push toward last Wednesday's high at 410.85, the top of the recent range. That would keep Tesla among the more resilient names in a shaky tape.

If the bounce stalls, Friday's close at 399.81 and the round 400 area are the first test. A break below there that cannot recover could send price back toward Friday's low at 387.52, where buyers stepped in. A return above 404.22 would weaken that downside case. Tesla has held up better than most of the Mag 7 over the last week, so watch whether that relative strength continues.

Final Word: The main scheduled event today is the ISM Manufacturing PMI at 10:00AM ET. This survey asks purchasing managers whether orders, production, hiring and prices are rising or falling, and a reading above 50 signals expansion. The prior reading was 54.5, with forecasts near 54.6, so a big surprise either way could move rates and stocks, especially the prices component as an inflation signal. Fed official Austan Goolsbee is also scheduled to speak at 11:15AM ET.

Futures are bouncing after a rough Friday that saw the Nasdaq lose more than three percent. NVDA, GOOGL, AMZN, MSFT and TSLA are trading higher premarket while AAPL and META are lagging, and because those names carry so much weight in the Nasdaq 100, their direction will drive NQ. Both NQ and ES are trading below their gamma flips, which has tended to mean wider ranges.

Watch participation into the open. Friday's selling came on heavy volume, so a bounce on thin trade is less convincing than one that pulls in real buyers. Notice whether recovered levels like SPY 755.72 and QQQ 690.49 hold on the first pullback. Good luck, trade safely, and have a great Monday!

You can catch Rips every Monday through Friday at 8AM ET 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.