RIPS Morning Memo - November 3rd, 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.

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 28237.50 after a choppy overnight session. Monday's high sits up at 28891.25 and Monday's low at 28101.75, so price is holding just above the bottom of yesterday's range. Overnight sellers did push a little lower to 28038.25 before buyers stepped back in. The level Rips is watching on air is the healthy bids zone between 28101.75 and 28121.75, which lines up with Monday's low. If buyers keep defending that zone, a push back toward the middle of Monday's range is in play. A break below it that cannot recover would put the overnight low back in focus. 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 7573.50, sitting right on Monday's low of 7570.75 after an overnight dip to 7546.00. Monday's high was 7693.75, well above today's price. ES is also trading below the dealer gamma flip, which converts to roughly 7705.25 on the futures. When ES has traded below that flip, ranges have tended to be wider and moves have been more likely to run instead of fading. The line in the sand Rips is watching on air is 7546.00, the overnight low. Holding above it keeps buyers in the fight, while losing it could open up a faster move lower. Catch the live show for the full market read.

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

SPY is currently trading around 752.00, almost flat with Monday's close of 752.10 after another session where an early pop faded. If buyers defend this area and push higher, Friday's close of 755.72 is the first spot to reclaim, followed by Friday's high near 761.46. A move that holds above that would open the door back toward Monday's high at 763.86, where sellers took control yesterday.

On the downside, Monday's low of 751.60 sits just under the current price, so this is a tight spot. If price breaks below and cannot recover, Friday's low at 750.36 comes into view next, and losing that would mean fresh lows for this pullback. A return above 755.72 would weaken the downside scenario. With two days in a row of selling into strength, watch whether any early bounce actually holds today.

Invesco QQQ Trust Series 1 (NASDAQ: QQQ)

QQQ is currently trading around 683.50, a little above Monday's close of 681.09 even with Apple under pressure this morning. Monday ran as high as 699.43 before sellers pushed it all the way back down, which shows how quickly rallies have been sold lately. If buyers keep control early, Friday's close near 690.49 is the first level to reclaim, with the 698.63 to 699.43 area above it as the bigger test.

If the bounce fades, Monday's low of 680.33 is the key spot to watch. Breaking below it and failing to recover would put QQQ at new lows for this pullback and could invite another leg lower. Strength in Nvidia and Alphabet premarket is helping offset Apple, so watch whether that leadership holds after the open. A move back above 690.49 would take a lot of pressure off.

Apple Inc. (NASDAQ: AAPL)

AAPL is currently trading around 323.50, down sharply premarket after its earnings report last night. The stock closed Monday at 338.32, so this is a big gap lower, and the market is reacting to concerns that higher memory costs could squeeze margins along with a cautious outlook for the holiday quarter. The first level overhead is Friday's low of 334.35, which was support last week and may now act as a ceiling. If buyers can fill some of the gap and reclaim that area, Monday's low near 335.82 is next.

On the downside, the early October low near 325.81 sits just above today's price and could be tested right away. If price breaks below and cannot recover, the 316.51 area from September is the next reference on the chart. Gaps like this often see big volume at the open, so let the first reaction settle before reading too much into it. A move back above 334.35 would weaken the downside case.

Microsoft Corp. (NASDAQ: MSFT)

MSFT is currently trading around 504.75, slipping a bit premarket and sitting just below Monday's low of 504.96. Monday was rough, with the stock trading up to 529.63 before closing near the lows at 507.12. If buyers step in early, reclaiming Monday's close at 507.12 is the first job, with Friday's low near 514.35 the next level above. A move back above that would help repair some of the damage from the last two sessions.

If MSFT cannot get back above Monday's low, it is trading at its lowest levels of this recent stretch, and there is no nearby chart support close by in the recent range. That makes the open important to watch, since sellers have had the upper hand for two straight sessions. A reclaim of 514.35 would weaken the downside scenario, while continued weakness could keep pressure on the broader Nasdaq.

Amazon.com Inc. (NASDAQ: AMZN)

AMZN is currently trading around 246.50, a little above Monday's close of 245.63. Amazon has been one of the more resilient names lately, rebounding off Friday's low near 229.36 and trading as high as 253.81 on Monday before giving some back. If buyers defend the current area, the 249.14 high from last week is the first level to clear, followed by Monday's high at 253.81.

If the bounce fades, Monday's close at 245.63 and Monday's low at 242.28 are the spots to watch. Breaking below 242.28 and failing to recover would put Friday's close near 240.35 back in focus. Amazon has held up better than several other big tech names in this pullback, so whether it keeps that relative strength today is worth watching. A move back above 249.14 would strengthen the upside case.

NVIDIA Corporation (NASDAQ: NVDA)

NVDA is currently trading around 205.25, leading the Magnificent 7 premarket with a gain of more than one percent. The stock closed Monday at 202.06 after trading as high as 209.98, so it is bouncing back toward the middle of that range. If buyers hold this early strength, Friday's high near 209.06 and Monday's high at 209.98 are the levels to clear, and getting through that zone would be a clear sign of recovery.

If the gains fade, Monday's close of 202.06 and Monday's low of 201.66 are the first areas buyers need to defend. Breaking below and failing to recover would put Friday's low near 200.92 back in play. Nvidia's strength is a big part of why Nasdaq futures are holding up despite Apple's slide, so watch whether it keeps leading after the open.

Alphabet Inc Class A (NASDAQ: GOOGL)

GOOGL is currently trading around 280.25, a bit above Monday's close of 278.99. Alphabet is still working through the big drop from last week, when it gapped down from the 320s, and it has been trying to find a floor in the high 270s since. If buyers build on this premarket bounce, Friday's high near 283.14 is the first level to reclaim, followed by Monday's high at 287.00.

On the downside, Monday's low of 278.80 sits close to the current price, with Friday's low near 276.92 just below it. If price breaks below 276.92 and cannot recover, the stock would be at new lows for this move. Holding that area would suggest buyers are stabilizing the stock after last week's sharp decline, while a reclaim of 283.14 would weaken the downside scenario.

Meta Platforms Inc (NASDAQ: META)

META is currently trading around 609.75, a little higher premarket after closing Monday at 606.73. It is trying to get back above Friday's low near 610.13, and reclaiming that level would be a good first step. If buyers can hold above it, Friday's close of 614.99 and Monday's high near 621.69 are the next levels overhead.

Meta has been drifting lower for most of the last two weeks, so the downside matters here too. Monday's low of 606.41 is the key spot to watch. If price breaks below and cannot recover, the stock would be at fresh lows for this pullback, which could invite more selling. A strong reclaim of 614.99 would weaken that downside scenario and show buyers stepping back in.

Tesla Inc. (NASDAQ: TSLA)

TSLA is currently trading around 403.75, almost unchanged from Monday's close of 403.82. Tesla has held up better than most big tech names over the last two weeks, holding in the 400 area while others slid. If buyers push higher, Friday's high near 404.22 is right overhead, with last week's 410.85 high and Monday's high at 414.23 the bigger levels above.

On the downside, Monday's low of 397.61 is the first area buyers need to defend. If price breaks below and cannot recover, Friday's low near 387.52 is the next reference. Tesla can swing hard in either direction, so watch how it trades against that 397.61 to 404.22 range early. A clean move above 414.23 would be a sign of real strength.

Final Word: Today brings two releases at the same time, with JOLTS job openings at 10:00AM ET alongside factory orders. JOLTS measures how many jobs employers are trying to fill, which helps show whether the labor market is cooling. A big surprise in either direction could move interest rate expectations, which matters a lot for tech stocks right now. Today is also Election Day for the U.S. midterms, so results tonight could add some volatility after hours.

The big story premarket is Apple, which is sliding after its earnings on margin worries and a cautious holiday outlook. At the same time, Nvidia, Alphabet, Meta and Amazon are all higher premarket, which is helping keep Nasdaq futures steady. Whether that strength can outweigh Apple's drop will say a lot about where the Nasdaq heads today.

Both ES and NQ are sitting near Monday's lows after two days of selling into rallies, so watch whether buyers can hold those levels into the open and after the 10:00AM ET data. Good luck, trade safely, and have a great Tuesday!

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.