Good morning to all the traders out there navigating what promises to be a busy Tuesday.
Today's economic calendar is packed with releases that should help paint a clearer picture of the macro environment. Things kick off at 8:30 AM with October Housing Starts and Preliminary Building Permits. These reports offer a window into consumer demand and construction activity, both of which tend to be highly sensitive to interest rate conditions. Then at 1:00 PM, the Treasury holds a 20-Year Bond Auction, and traders will be watching closely to gauge investor appetite at longer maturities. The main event arrives at 2:00 PM when the FOMC Meeting Minutes from October get released, providing deeper insight into the committee's internal debate and just how unified policymakers were on their latest rate stance.
As if that weren't enough, several Fed officials are scheduled to speak throughout the day, including Governor Stephen Miran, Richmond Fed President Thomas Barkin, and New York Fed President John Williams. These speeches could easily trigger intraday volatility, especially since we don't have heavier economic data dominating the headlines. And then there's NVIDIA (NVDA) earnings after the close, which adds yet another catalyst to the mix. Expect active, headline-sensitive flows as traders digest all of this information.
With that backdrop in mind, let's dig into the technical levels for SPY, QQQ, Apple (AAPL), Microsoft (MSFT), NVIDIA (NVDA), Alphabet (GOOGL), Meta (META), and Tesla (TSLA).
SPDR S&P 500 ETF Trust
SPY opens at 663.00, where buyers will try to steady things after yesterday's mixed session. If they can build support at this level, we might see a push into 664.10. Strength above that zone could carry the price toward 665.20, and continued momentum may guide SPY into 666.35. A stronger tape could send it all the way to 667.50. Each step higher reflects buyers attempting to regain short-term control amid choppy market structure.
On the flip side, if SPY loses 663.00, sellers may quickly probe down into 661.85. A breakdown here could drag the price toward 660.70, and deeper pressure may open a path into 659.55. If downside momentum really expands, SPY could slip toward 658.40. These lower levels represent areas where buyers previously supported the tape, and failure to defend them might signal broader market hesitation.
Invesco QQQ Trust Series 1
QQQ begins at 599.50, with bulls hoping to hold this level as a foundation for upside attempts. A push into 600.60 may develop if buyers firm up here. Continued strength could drive a move toward 601.75, and if the tape cooperates, QQQ may lift into 602.90. A more extended intraday move could reach 604.00, signaling renewed appetite for mega-cap tech.
If 599.50 breaks, sellers may nudge QQQ into 598.35. A lack of reaction there opens the door to 597.15. Should pressure persist, the price may slide into 595.95, and an aggressive downside extension could test 594.80. Each push lower reflects buyers stepping aside while bears attempt to reclaim control.
Apple Inc.
Apple (AAPL) opens at 267.75, where buyers will look to defend early in the session. If stability develops, a lift into 268.60 may take shape. Continued strength could push the price into 269.45, and with follow-through, Apple may advance toward 270.30. A stronger bid could bring a test into 271.15, signaling increased confidence ahead of the holiday season.
If Apple slips below 267.75, sellers may steer the price into 266.90. Breaking that level could pull the stock into 266.00. Persistent weakness may extend into 265.10, and if pressure gains traction, 264.20 may be tested. These zones help define where buyers might attempt to slow downside momentum.
Microsoft Corp.
Microsoft (MSFT) starts at 494.50, with bulls attempting to reclaim some footing after recent softness. If support holds, a move into 495.70 may follow. Sustained buying could push Microsoft into 496.90, and a stronger tape may drive the price into 498.10. A more extended session could reach toward 499.30, showing buyers attempting to reestablish trend structure.
If Microsoft breaks below 494.50, sellers may guide the price into 493.20. Continued downside could drag it into 491.95, and if pressure builds, a move into 490.70 may occur. A deeper rotation could test 489.45, suggesting a lack of near-term conviction from buyers.
NVIDIA Corporation
NVIDIA (NVDA) opens at 183.50, with buyers watching this level closely ahead of the company's earnings release after the bell. If the stock finds early footing, a move into 184.40 may unfold. Continued interest could carry the price toward 185.35, and stronger appetite may lift NVIDIA into 186.30. A robust intraday bid could attempt to reach 187.25 as traders position themselves ahead of the earnings event.
If NVIDIA slips under 183.50, sellers may target 182.55. A breakdown may pull the price into 181.60, and continued weakness could open the door toward 180.65. If bearish pressure expands, NVIDIA might slide into 179.70. Expect more reactive, jumpy flows today as traders position cautiously ahead of the earnings report. This is the stock everyone's watching, and volatility could spike significantly after the numbers hit.
Alphabet Inc. Class A
Alphabet (GOOGL) trades at 288.75 to begin the session, with buyers attempting to maintain the recent recovery trend. A move into 289.70 may form if support holds. Continued strength might guide the price toward 290.65, and if momentum builds, Alphabet could push into 291.55. A more extended climb may reach toward 292.50, signaling improving sentiment in the communication services space.
If 288.75 breaks, sellers may test 287.75. A failure there opens movement into 286.70. Additional weakness could carry the stock toward 285.65, and if selling accelerates, the price may explore 284.60. These levels show where buyers may reappear to stabilize trend structure.
Meta Platforms Inc.
Meta (META) opens at 599.25, with bulls looking to defend after last week's pullback. If they succeed, the price could lift into 601.00. Continued momentum may guide the stock into 602.75, and if buyers stay active, Meta could advance into 604.50. A stronger tape might even push toward 606.20, signaling renewed demand in the social media heavyweight.
If 599.25 fails, sellers may probe into 597.50. A continued decline could drag Meta toward 595.70. Should weakness persist, the price may slide into 593.95, and heavier selling may open a move toward 592.20. This progression would indicate hesitancy among dip buyers.
Tesla Inc.
Tesla (TSLA) begins the morning at 404.75, and buyers will be watching this zone closely. A firm hold could produce a move into 406.25. Continued strength may lift the price toward 407.80, and with broader market help, Tesla could see 409.30. A stronger push might stretch into 410.85 as traders attempt to regain directional momentum.
If Tesla drops below 404.75, sellers may press the price into 403.20. Breaking there may send Tesla into 401.70. Further weakness could carry into 400.20, and if pressure grows, the stock might test 398.70. These levels highlight where buyers previously stepped in during last week's trade.
Today's session has the potential to get messy in a hurry, with economic data, Fed commentary, and NVIDIA earnings all converging. Trade safely and stay disciplined out there.