How To Trade SPY As China Spews Retaliatory Tariffs: Technical Analysis

Good Morning Traders! In today’s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.

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

SPDR S&P 500 ETF Trust (SPY)

Currently, SPY is trading near our pivot point at 490.11. Bulls are targeting an initial move upwards to 491.70. Sustained strength above this point could propel SPY toward the next key resistance at 493.24. A strong buying effort here during the day would likely drive prices upward toward 494.93, with a bullish ceiling at 496.93. 

If support at 490.11 falters, expect sellers to target 488.83. Increased bearish pressure could see prices slip down to 487.54. Continued aggressive selling below this point may lead SPY toward substantial support at 485.71. Under intense selling conditions, SPY’s bearish downside could reach as low as 484.60.

Invesco QQQ Trust Series 1 (QQQ)

The QQQ ETF is hovering near our crucial point of 410.34. Bulls need buyers to firmly maintain prices above this level, establishing solid support at 411.80. Sustained bullish momentum could then drive prices higher toward 413.30, with further strength potentially challenging 414.20. Our top bullish target for today rests at 416.23. 

Should buyers struggle at 410.34, anticipate sellers stepping in, initially targeting 409.44. Further weakness may result in price action testing lower at 408.80. Persistent bearish momentum would likely drive the auction toward 407.64. If sellers dominate fully, our ultimate bearish target for today will be 406.58.

Apple Inc. (AAPL)

Apple shares are trading around our focal point of 169.73. Bulls aim to solidify this support, targeting an upward move toward 171.13. Further sustained bullish sentiment would lift the price toward 172.45. If bulls assert strong control, the price could reach today’s bullish peak at 173.39. 

Conversely, if support at 169.73 collapses, expect sellers to test lower at 168.41 initially. Further downside momentum could push Apple towards 167.59, with aggressive selling potentially testing 166.27. Extreme bearish conditions would place Apple’s low-end bearish target for today at 165.62.

Microsoft Corp. (MSFT)

Microsoft is currently trading close to our benchmark at 349.67. Bulls must firmly maintain this level to catalyze an upward thrust toward 354.73. Holding this as strong intraday support might enable a push towards 358.28. Continued bullish activity could reach the day’s upper bullish target of 362.81. 

If Microsoft fails to hold support at 349.67, bearish traders will first target 346.25. Further weakening below this point could bring 342.88 into play. Ongoing bearish pressure may then push Microsoft down to 339.66. In an aggressive bearish scenario, today’s low-end target is 335.57.

NVIDIA Corporation (NVDA)

NVIDIA is trading near our reference level of 95.02. Bulls aim to reclaim and solidify support at 96.58 to pave the way upward toward 98.02. Persistent bullish activity could elevate prices further, reaching 99.87. Should momentum remain robust, NVIDIA could achieve today’s bullish ceiling at 102.55. 

If 95.02 fails to serve as reliable support, expect bears to press prices toward 92.47 initially. A break below this would likely extend selling pressure down to 91.41. Continued bearish momentum may target 90.43, with aggressive sellers potentially driving NVIDIA to today’s lowest bearish target of 89.28.

Alphabet Inc Class A (GOOGL)

Alphabet shares are fluctuating around our pivot at 143.17. Bulls are looking to hold firm here, advancing upward toward 144.72. Continued bullish strength could propel Alphabet towards today’s high-end target at 146.89. 

If the level of 143.17 fails as support, expect bears to target 141.71 initially. Additional selling pressure could quickly test the next level at 140.57. Persistent bearish momentum would likely lead Alphabet to today’s lowest bearish target at 139.46.

Meta Platforms Inc (META)

Meta is trading near our critical level at 498.03. Bulls aim to maintain strong support here, targeting an advance toward 504.54. Further buying could push prices upward to 512.85. With continued bullish action, Meta might reach today’s bullish maximum at 520.27. 

If Meta slips below the support at 495.54, bears are expected to aggressively target 492.33 initially. Persistent selling would likely extend declines to 488.81. Under significant bearish pressure, prices might drop sharply, reaching today’s lowest bearish target at 483.11.

Tesla Inc. (TSLA)

Tesla shares are oscillating near our key support at 217.78. Bulls aim to push higher to 222.19 initially, with continued buying strength targeting 226.53. In a robustly bullish market scenario, prices could test 230.65. Exceptional buying volume may propel Tesla toward today’s upper bullish target at 235.74. 

Should Tesla fail to sustain the 217.78 support, bearish momentum would likely push the price down initially to 216.31. Continued selling might extend declines further to 213.88. Under significant bearish pressure, the price could approach our bearish low-end target today of 209.51.

Final Word: 

Today’s market environment is relatively quiet regarding economic announcements, although traders should closely monitor a few key events. At 10:00 AM ET, the Wholesale Trade Sales report for February will be released, providing insights into economic health. Later, at 1:00 PM ET, the Treasury’s 10-Year Note Auction will take place, potentially influencing bond markets significantly. At 2:00 PM ET, traders should remain highly vigilant as the FOMC Meeting Minutes from March become public, offering valuable clues about future monetary policy. 

Beyond these scheduled events, market participants must remain particularly alert for headlines related to global trade tensions. Given the ongoing volatility surrounding tariffs and international trade negotiations, unexpected news could trigger rapid, significant market movements. Prioritize careful risk management and disciplined trading strategies today to navigate potential volatility effectively. Good luck, and remain vigilant!

The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.

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