RIPS Morning Memo - November 4th, 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 28360.00 after an overnight push faded. The two references from yesterday's session are the high at 28449.50 and the low at 28038.25. The line in the sand Rips is watching on air sits between 28432.00 and 28449.50, right under that high, so a move back through that zone would be the first real sign buyers have control. NQ is trading well below the dealer gamma flip near 29609.25, a setting where ranges have tended to run wider and moves can travel further than usual. 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 7656.75, already above Tuesday's high of 7623.75, with yesterday's low back at 7546.00. Rips is watching the healthy bids zone between 7656.50 and 7661.50 on air, and price is sitting right on it this morning, so how buyers treat that pocket early matters. ES is still below the dealer gamma flip near 7690.25, where ranges have tended to be wider and moves can stretch. If buyers keep price above 7623.75, the gap higher stays intact. A slide back under it would put the prior low in play. Catch the live show for the full market read as the open develops.

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

SPY is currently trading around 760.25, gapping above Tuesday's high of 757.07 as futures firm up after the midterm results. The first overhead test is 761.46, the high from last Thursday's session, which sits just above the current price. If buyers clear that and hold it, the next reference is 763.86, Monday's high, where sellers turned the market lower to start the week. A push through both would open the way toward 767.73, the high from October 26, though that is a stretch on a day with several data releases.

The key downside area is 757.07. If buyers defend yesterday's high on any early dip, the gap stays healthy. If price slips back under it and cannot recover, the gap starts to fill toward the 754.35 close and then 752.39, Tuesday's low. Below that, 750.36 from last Thursday is the floor of the recent pullback. A firm return above 761.46 after any dip would weaken the downside case, since it would show buyers absorbing early selling rather than giving ground.

Invesco QQQ Trust Series 1 (NASDAQ: QQQ)

QQQ is currently trading around 686.75, a smaller premarket gain than SPY because Tesla is weighing on the Nasdaq this morning. The first level above is 688.69, Tuesday's high. If buyers reclaim that and hold it, the bigger target is the 698.63 to 699.43 area, the highs from last Thursday and Monday where the selloff started. That is a wide gap to fill, so expect it to take more than a quick opening pop.

On the downside, 685.28 is yesterday's close and the first spot to watch if the early gain fades. Below that, 683.18 was Tuesday's low, and 680.33 from Monday is the bottom of this recent pullback. If price breaks 680.33 and cannot get back above it, the tech weakness from last week would be resuming. A move back above 688.69 after a dip would weaken that downside view. Watch whether the mega caps that are green premarket, like Microsoft and Amazon, can offset Tesla once the cash session opens.

Apple Inc. (NASDAQ: AAPL)

AAPL is currently trading around 334.75, bouncing after a heavy session Tuesday that saw it trade as low as 325.33 before recovering to close at 331.90. Price is now hovering just above yesterday's high of 334.50. The next test overhead is 335.82, Monday's low, which became resistance after Tuesday's drop. If buyers reclaim that level and hold it, the path opens toward 343.80, Monday's high, which is a big step for one session.

If price falls back under 334.50 and cannot recover, the bounce looks shaky, with 331.90 the first stop and the 325.33 low the bigger level beneath it. Tuesday's volume ran well above late October levels, so that low is a level traders will remember. A return above 335.82 would weaken the downside scenario. Apple has dropped in four of the last five sessions, so a steady hold above yesterday's high would be a meaningful change in tone, while a fade would keep the pressure on.

Microsoft Corp. (NASDAQ: MSFT)

MSFT is currently trading around 530.50, one of the stronger Mag 7 names premarket and already above Monday's high of 529.63. If buyers defend this area, the next references are 534.70 and 535.00, the highs from October 27 and 28, which sit close together and form a clear ceiling. A push through that band would bring 541.29 into view, the October 29 high where the stock topped before the recent slide.

If price slips back under 529.63 and cannot recover, the gap starts to look fragile, with 526.00 from last Thursday next and 523.44, Tuesday's high, below that. Losing 523.44 would undo most of this morning's strength. A firm return above 535.00 would weaken the downside case. Microsoft has bounced sharply from Monday's low of 504.96, so this gap extends that rebound. Whether it holds above the old highs will show if buyers want to keep paying up for cloud and AI names after the recent volatility.

Amazon.com Inc. (NASDAQ: AMZN)

AMZN is currently trading around 257.25, the strongest Mag 7 name premarket and sitting above every high from the last two weeks. The nearest reference is 255.36, the October 28 high, which price has already cleared. If buyers defend that level as support on any early dip, the stock is trading in open air above its recent range, and the strength itself becomes the story to watch.

If price slips back under 255.36 and cannot recover, the next references are 253.81, Monday's high, and 252.45, Tuesday's high. A drop through 252.45 would erase the gap and put the 250.69 close back in play. A firm hold above 255.36 after the open would keep the downside scenario on the shelf. Amazon has climbed steadily since the October 30 low of 229.36, so this morning tests whether that rebound can push into new ground or stalls at the top of the range.

NVIDIA Corporation (NASDAQ: NVDA)

NVDA is currently trading around 206.00, slightly below yesterday's 206.69 close and lagging most of the Mag 7 this morning. The first level above is 209.14, Tuesday's high, with 209.98 from Monday right behind it. If buyers reclaim that pair and hold it, the next reference is 215.33, the October 29 high, though that requires a clear shift in momentum from where the stock sits now.

The nearby floor is 205.93, Tuesday's low, which is only a few cents below the current price. If price breaks below it and cannot recover, Monday's low of 201.66 comes into view, with 200.92 from last Thursday just beneath. That 200 area is the base of the recent pullback and the level most traders will watch. A return above 209.14 would weaken the downside case. Nvidia's flat premarket stands out against gains in Microsoft and Amazon, so watch whether chip names catch up or keep lagging after the opening bell.

Alphabet Inc Class A (NASDAQ: GOOGL)

GOOGL is currently trading around 281.75, edging just above Tuesday's high of 281.61. The stock has been consolidating in a tight range since its sharp drop on October 29, and this morning it is testing the top of that range. If buyers hold above 281.61, the next level is 283.14, last Thursday's high. A clean move through that opens the way toward 287.00, Monday's high, the top of the recent consolidation.

On the downside, 280.03 is yesterday's close and the first spot to watch if the early bid fades. Below that, 277.20 was Tuesday's low and 276.92 from last Thursday is the base of this range. If price breaks below 276.92 and cannot recover, the consolidation would resolve lower. A move back above 283.14 would weaken that downside scenario. Alphabet has been quiet compared with the other Mag 7 names, so a break out of this range in either direction could set the tone for the next few sessions.

Meta Platforms Inc (NASDAQ: META)

META is currently trading around 624.50, just under Tuesday's high of 624.84 after a solid gain yesterday. If buyers reclaim that level and hold it, the next test is 626.37, last Thursday's high. Above that, 634.68 from October 29 is the bigger ceiling, where the stock last turned lower. Getting through both would be a solid recovery, but there is real overhead resistance in the way.

If price fades from here, 621.69 and 621.03 form a tight area made of Monday's high and Tuesday's close. If buyers defend it, Tuesday's rebound stays intact. If price breaks below and cannot recover, the next real support is 610.10, Tuesday's low, which is also near the bottom of the recent range. A move back above 626.37 would weaken the downside scenario. Tuesday's volume was the lightest of the last two weeks, so watch whether participation picks up if the stock pushes through 624.84.

Tesla Inc. (NASDAQ: TSLA)

TSLA is currently trading around 375.75, down sharply premarket and well below Tuesday's low of 396.53. The selloff follows the midterm results, which reports tie to the outlook for Elon Musk's companies. Because of the gap, the old range is now overhead. If buyers can steady things, the first recovery level is 383.73, the October 26 low, with 387.52, last Thursday's low, above that. Reclaiming both would be needed before 396.53 even comes into play.

On the downside, the first real reference is 365.27, the October 23 low, which sits about 10 dollars below the current price. If price breaks below that and cannot recover, Tesla would be trading under its October 23 low with little nearby support. A move back above 383.73 after the open would weaken the downside case. Separately, reports show Tesla's new registrations in Germany rose sharply in October, but the political headlines are clearly driving the stock this morning, and it is the main drag on Nasdaq futures.

Final Word: Wednesday's calendar starts early, with the ADP employment report at 8:15AM ET, a private payroll estimate that gives an early read on hiring. The September trade balance follows at 8:30AM ET. The main event is the ISM services report at 10:00AM ET, which measures activity in the service side of the economy, the largest part of it. A strong reading points to steady growth but can lift interest rates, while a soft one could ease rate pressure but raise growth worries. Weekly oil inventory data is out at 10:30AM ET.

The overnight story is the midterm elections. Reported results showing strong gains for Democrats are the backdrop this morning, and the biggest single stock reaction is Tesla, down sharply premarket. The broader market is taking it calmly, with ES and SPY gapping above Tuesday's highs.

Among the Mag 7, Amazon and Microsoft are leading premarket, Apple, Meta and Alphabet are modestly higher, Nvidia is flat to lower and Tesla is the clear laggard. Because those names carry so much weight in the Nasdaq 100, that split is why NQ is lagging ES this morning. Watch whether SPY and ES can keep their gap above Tuesday's highs through the morning data, and whether the leaders hold their early gains on the first pullback. Good luck, trade safely, and have a great Wednesday!

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.