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Trading SPY and Tech Giants: A Technical Roadmap for Today's Data-Heavy Session

MarketDash Editorial Team
18 days ago
Today brings one of the heaviest economic data releases in weeks, with delayed September employment figures, Fed speakers throughout the day, and Nvidia's earnings creating a high-volatility environment for SPY, QQQ, and major tech stocks.

If you're trading today, buckle up. This is one of those sessions where everything happens at once, and the market will be digesting information from multiple directions starting from the opening bell.

At 8:30AM ET, we're getting hit with a massive data dump that includes the Philadelphia Fed Business Outlook, Jobless Claims, and here's the kicker: a large batch of September employment metrics that were delayed by the government shutdown. We're talking Non-Farm Payrolls, Private Payrolls, Manufacturing Payrolls, Average Hourly Earnings, Weekly Hours, Unemployment Rate, Labor Force Participation Rate, and the Underemployment Rate all at once. This isn't just your typical data morning. This batch of reports will immediately set the tone and could completely reshape what traders expect from the Fed on rate cuts.

Then at 10:00AM ET, the October Leading Index drops alongside Existing Home Sales, adding another macro layer to digest. At 11:00AM ET, the Treasury releases its bill and note announcements, followed by the 10-Year TIPS Auction at 1:00PM ET, which inflation watchers will be glued to. Energy traders can also keep an eye on the SEMI Billings Report at 6:00PM ET, though that'll be more of a secondary consideration.

As if that weren't enough, we've got a parade of Fed speakers lined up throughout the day. At 8:45AM ET, Cleveland Fed's Beth Hammack speaks on financial stability. At 9:30AM, Governor Michael Barr joins an AI policy discussion. At 11:00AM, Governor Lisa Cook addresses financial stability. At 12:40PM, Chicago Fed President Austan Goolsbee delivers remarks at the CFA Society. At 4:30PM, the Philly Fed's Anna Paulson discusses the economic outlook. Finally, at 6:15PM, Governor Stephen Miran participates in a discussion that traders will likely watch closely for any dovish dissent signaling.

Oh, and don't forget that traders are also processing Nvidia's (NVDA) Q3 earnings beat, which can move semiconductor sentiment and broader tech flows in a big way today. So you've got macro data, Fed commentary, Treasury auctions, and major earnings all colliding in a single session. This is a high-pressure environment where discipline and proper position sizing really matter.

Here's how the technical picture looks for SPY, QQQ, and the major tech names heading into this volatility.

SPDR S&P 500 ETF Trust (SPY)

SPY begins the session at 669.50, where buyers will try to steady things early. If they can build a base here, a move into 670.65 may start to develop. Strength above that zone could lift SPY toward 671.85, where bulls will look to establish more meaningful control. If momentum continues building, price may press into 673.00, and a stronger push could reach toward 674.20 as confidence grows across the market.

On the downside, if SPY slips under 669.50, sellers may test support with a move into 668.35. Losing that level could invite pressure into 667.20. Failure to stabilize there may open a slide into 666.05. If downside momentum really builds, SPY could rotate into 664.90, signaling broader caution taking hold.

Invesco QQQ Trust Series 1 (QQQ)

QQQ opens at 608.50, and bulls will be defending this area to start the morning. If they hold firm, a move into 609.65 may unfold. Sustained buying could bring 610.80 into focus, and if confidence continues to broaden, price may extend into 612.00. A strong session could carry QQQ toward 613.20.

If sellers pull QQQ below 608.50, a dip into 607.35 may come into play. Breaking that level can bring 606.20 into view. Continued weakness may reach toward 605.00, and if selling accelerates, price may slide into 603.85, indicating demand is fading fast.

Apple Inc. (AAPL)

Apple Inc. (AAPL) begins the morning at 269.75, where buyers will aim to establish support. If they succeed, Apple may drift into 270.60. A steady bid could carry price into 271.40, and further strength may target 272.25. If bullish momentum expands, Apple may stretch into 273.10.

If Apple loses 269.75, sellers may lean price into 268.95. A breakdown there could allow a move toward 268.15. Should weakness persist, Apple may slip into 267.30. A heavier decline could pull price toward 266.50, signaling a more defensive tone taking over.

Microsoft Corp. (MSFT)

Microsoft Corp. (MSFT) opens at 491.00, where bulls will attempt to stabilize things. If they succeed, a move into 492.20 may form. Continued strength can lead into 493.40. Should bullish momentum widen, MSFT may press into 494.65, with a stretch target toward 495.90.

If MSFT moves below 491.00, sellers may guide price into 489.85. A push through that level may bring 488.70 into play. Further weakness could draw Microsoft into 487.55. If downside pressure broadens significantly, a move into 486.40 may develop.

NVIDIA Corporation (NVDA)

NVIDIA Corporation (NVDA) begins at 195.75 following its Q3 earnings where the company beat Wall Street expectations. If buyers build a base at the open, a lift into 197.00 may unfold. Continued enthusiasm could guide price into 198.25. If momentum expands, the tape may press into 199.55. A stronger advance could stretch toward 200.80.

If NVIDIA loses 195.75, sellers may attempt to break into 194.50. A drop through that area may target 193.20. If buyers remain inactive, price may slip toward 191.90. A further decline into 190.60 would reflect waning appetite as traders digest the post-earnings positioning more carefully.

Alphabet Inc Class A (GOOGL)

Alphabet Inc. (GOOGL) starts at 298.50, where buyers look to create early stability. If they succeed, price may lift into 299.50. A stronger bid could carry GOOGL into 300.55. Continued strength may open a path toward 301.65. A bullish extension could reach toward 302.70.

If sellers take GOOGL below 298.50, a dip into 297.40 may take shape. Breaking that level could lead into 296.30. If pressure builds, price may move into 295.25. A deeper slide into 294.10 may signal broader tech softness spreading.

Meta Platforms Inc (META)

Meta Platforms Inc. (META) opens at 597.50, where bulls aim to find footing. If support builds, a move into 599.10 may appear. Continued strength could lift price into 600.75. If momentum widens, META may press into 602.40. An extended advance could bring price toward 604.00.

If META falls under 597.50, sellers might test 595.80. A break there may bring 594.10 into play. Continued weakness can open movement toward 592.40. If selling becomes more aggressive, META may drift into 590.70.

Tesla Inc. (TSLA)

Tesla Inc. (TSLA) begins the session at 411.25, where buyers will attempt to stabilize the tape. If they succeed, a lift into 412.75 may develop. Continued follow-through could bring TSLA into 414.20. Additional strength may target 415.65. A strong bid may stretch Tesla toward 417.10.

If TSLA loses 411.25, sellers may pressure the stock into 409.80. Further weakness could draw price into 408.30. A continued breakdown may bring TSLA into 406.85. If selling deepens, price may slide into 405.40.

Bottom line: today is not a day to trade carelessly. Move thoughtfully, size your positions properly, and respect your risk parameters. The volatility will create opportunities, but it'll also punish sloppy execution.

Back to News

Trading SPY and Tech Giants: A Technical Roadmap for Today's Data-Heavy Session

MarketDash Editorial Team
18 days ago
Today brings one of the heaviest economic data releases in weeks, with delayed September employment figures, Fed speakers throughout the day, and Nvidia's earnings creating a high-volatility environment for SPY, QQQ, and major tech stocks.

If you're trading today, buckle up. This is one of those sessions where everything happens at once, and the market will be digesting information from multiple directions starting from the opening bell.

At 8:30AM ET, we're getting hit with a massive data dump that includes the Philadelphia Fed Business Outlook, Jobless Claims, and here's the kicker: a large batch of September employment metrics that were delayed by the government shutdown. We're talking Non-Farm Payrolls, Private Payrolls, Manufacturing Payrolls, Average Hourly Earnings, Weekly Hours, Unemployment Rate, Labor Force Participation Rate, and the Underemployment Rate all at once. This isn't just your typical data morning. This batch of reports will immediately set the tone and could completely reshape what traders expect from the Fed on rate cuts.

Then at 10:00AM ET, the October Leading Index drops alongside Existing Home Sales, adding another macro layer to digest. At 11:00AM ET, the Treasury releases its bill and note announcements, followed by the 10-Year TIPS Auction at 1:00PM ET, which inflation watchers will be glued to. Energy traders can also keep an eye on the SEMI Billings Report at 6:00PM ET, though that'll be more of a secondary consideration.

As if that weren't enough, we've got a parade of Fed speakers lined up throughout the day. At 8:45AM ET, Cleveland Fed's Beth Hammack speaks on financial stability. At 9:30AM, Governor Michael Barr joins an AI policy discussion. At 11:00AM, Governor Lisa Cook addresses financial stability. At 12:40PM, Chicago Fed President Austan Goolsbee delivers remarks at the CFA Society. At 4:30PM, the Philly Fed's Anna Paulson discusses the economic outlook. Finally, at 6:15PM, Governor Stephen Miran participates in a discussion that traders will likely watch closely for any dovish dissent signaling.

Oh, and don't forget that traders are also processing Nvidia's (NVDA) Q3 earnings beat, which can move semiconductor sentiment and broader tech flows in a big way today. So you've got macro data, Fed commentary, Treasury auctions, and major earnings all colliding in a single session. This is a high-pressure environment where discipline and proper position sizing really matter.

Here's how the technical picture looks for SPY, QQQ, and the major tech names heading into this volatility.

SPDR S&P 500 ETF Trust (SPY)

SPY begins the session at 669.50, where buyers will try to steady things early. If they can build a base here, a move into 670.65 may start to develop. Strength above that zone could lift SPY toward 671.85, where bulls will look to establish more meaningful control. If momentum continues building, price may press into 673.00, and a stronger push could reach toward 674.20 as confidence grows across the market.

On the downside, if SPY slips under 669.50, sellers may test support with a move into 668.35. Losing that level could invite pressure into 667.20. Failure to stabilize there may open a slide into 666.05. If downside momentum really builds, SPY could rotate into 664.90, signaling broader caution taking hold.

Invesco QQQ Trust Series 1 (QQQ)

QQQ opens at 608.50, and bulls will be defending this area to start the morning. If they hold firm, a move into 609.65 may unfold. Sustained buying could bring 610.80 into focus, and if confidence continues to broaden, price may extend into 612.00. A strong session could carry QQQ toward 613.20.

If sellers pull QQQ below 608.50, a dip into 607.35 may come into play. Breaking that level can bring 606.20 into view. Continued weakness may reach toward 605.00, and if selling accelerates, price may slide into 603.85, indicating demand is fading fast.

Apple Inc. (AAPL)

Apple Inc. (AAPL) begins the morning at 269.75, where buyers will aim to establish support. If they succeed, Apple may drift into 270.60. A steady bid could carry price into 271.40, and further strength may target 272.25. If bullish momentum expands, Apple may stretch into 273.10.

If Apple loses 269.75, sellers may lean price into 268.95. A breakdown there could allow a move toward 268.15. Should weakness persist, Apple may slip into 267.30. A heavier decline could pull price toward 266.50, signaling a more defensive tone taking over.

Microsoft Corp. (MSFT)

Microsoft Corp. (MSFT) opens at 491.00, where bulls will attempt to stabilize things. If they succeed, a move into 492.20 may form. Continued strength can lead into 493.40. Should bullish momentum widen, MSFT may press into 494.65, with a stretch target toward 495.90.

If MSFT moves below 491.00, sellers may guide price into 489.85. A push through that level may bring 488.70 into play. Further weakness could draw Microsoft into 487.55. If downside pressure broadens significantly, a move into 486.40 may develop.

NVIDIA Corporation (NVDA)

NVIDIA Corporation (NVDA) begins at 195.75 following its Q3 earnings where the company beat Wall Street expectations. If buyers build a base at the open, a lift into 197.00 may unfold. Continued enthusiasm could guide price into 198.25. If momentum expands, the tape may press into 199.55. A stronger advance could stretch toward 200.80.

If NVIDIA loses 195.75, sellers may attempt to break into 194.50. A drop through that area may target 193.20. If buyers remain inactive, price may slip toward 191.90. A further decline into 190.60 would reflect waning appetite as traders digest the post-earnings positioning more carefully.

Alphabet Inc Class A (GOOGL)

Alphabet Inc. (GOOGL) starts at 298.50, where buyers look to create early stability. If they succeed, price may lift into 299.50. A stronger bid could carry GOOGL into 300.55. Continued strength may open a path toward 301.65. A bullish extension could reach toward 302.70.

If sellers take GOOGL below 298.50, a dip into 297.40 may take shape. Breaking that level could lead into 296.30. If pressure builds, price may move into 295.25. A deeper slide into 294.10 may signal broader tech softness spreading.

Meta Platforms Inc (META)

Meta Platforms Inc. (META) opens at 597.50, where bulls aim to find footing. If support builds, a move into 599.10 may appear. Continued strength could lift price into 600.75. If momentum widens, META may press into 602.40. An extended advance could bring price toward 604.00.

If META falls under 597.50, sellers might test 595.80. A break there may bring 594.10 into play. Continued weakness can open movement toward 592.40. If selling becomes more aggressive, META may drift into 590.70.

Tesla Inc. (TSLA)

Tesla Inc. (TSLA) begins the session at 411.25, where buyers will attempt to stabilize the tape. If they succeed, a lift into 412.75 may develop. Continued follow-through could bring TSLA into 414.20. Additional strength may target 415.65. A strong bid may stretch Tesla toward 417.10.

If TSLA loses 411.25, sellers may pressure the stock into 409.80. Further weakness could draw price into 408.30. A continued breakdown may bring TSLA into 406.85. If selling deepens, price may slide into 405.40.

Bottom line: today is not a day to trade carelessly. Move thoughtfully, size your positions properly, and respect your risk parameters. The volatility will create opportunities, but it'll also punish sloppy execution.