How To Trade SPY, Top Tech Stocks Using Technical Analysis

Good Morning Traders!

Today brings a modest slate of economic data. The 8:30 AM ET Trade Balance for August offers a look at export and import health, while 10:00 AM ET brings the RCM/TIPP Economic Optimism index, a measure of consumer sentiment that can hint at spending trends. At 11:00 AM ET, the New York 1-Year Inflation Expectations release may capture traders’ attention given its implications for inflation sentiment and Fed expectations. 

The 1:00 PM ET 3-Year Note Auction is today’s key event, as Treasury supply often affects yield movements and intraday liquidity. Fed speakers throughout the morning: Bostic, Bowman, Miran, and Kashkari, could also color the market’s tone, especially if they offer clues about future rate policy. 

Despite the low volume of scheduled data, liquidity could remain thin and volatility sporadic. This environment rewards traders who stay patient, scale into conviction, and remain alert for sharp swings sparked by macro headlines or auction-related flows.

Now, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.

SPDR S&P 500 ETF Trust (SPY)

SPY opens at 671.50, where bulls will look to maintain their recent momentum. A lift above this area could drive a move into 672.65, followed by 673.85. Continued buying could then carry price into 675.00, with a strong session stretching toward 676.15 and 677.25. Each step higher will show buyers remaining confident even in a quieter data session. 

If SPY loses its grip on 671.50, sellers may drag the tape into 670.25. A breakdown here opens the door to 669.10 and 667.85, with heavier pressure exposing 666.60. If momentum builds to the downside, price could extend toward 665.40. These levels highlight where buyers will need to reemerge to avoid a controlled pullback into prior demand zones.

Invesco QQQ Trust Series 1 (QQQ)

QQQ begins the session at 607.75, with bulls attempting to keep upward traction. A steady advance above this level could invite continuation into 608.90 and 610.05. If momentum holds, price may push into 611.15 and 612.35, with the bullish extension target sitting near 613.55. Sustained progress here would reflect strong participation across large-cap tech. 

If 607.75 falters, sellers could lean into 606.50. A break there sets up 605.25 as the next target, with deeper selling pressure driving into 604.00. Continued weakness could bring 602.80 into play, and if that fails to hold, QQQ may slide into 601.55 before balance attempts return. These stages lower often mark where liquidity pockets can exaggerate intraday moves.

Apple Inc. (AAPL)

Apple starts the morning at 255.75, where bulls will attempt to defend footing. A push above this zone may bring 256.70 into focus, followed by 257.60 and 258.50. If momentum carries, price could extend toward 259.45 and 260.35, as buyers look to reclaim control after recent hesitation. Each successive step up reinforces near-term confidence. 

If Apple slips under 255.75, look for sellers to probe into 254.80. A break there exposes 253.85, and continued weakness may bring 252.90 into view. If selling accelerates, Apple could test 251.95 and potentially reach 251.00 before stabilizing. These areas are key for gauging whether dip buyers remain active or step aside temporarily.

Microsoft Corp. (MSFT)

Microsoft trades at 527.50, and bulls will aim to build on recent strength. A move higher could carry into 528.75 and 530.00, where holding momentum may drive price into 531.25. Sustained buying through this range could invite an extension toward 532.45 and 533.65, highlighting continued appetite in large-cap growth names. 

Should 527.50 give way, sellers may attempt to press into 526.20. A break there would expose 524.95 and potentially 523.70. If bearish pressure strengthens, Microsoft could slide into 522.40 and 521.15. Each move lower will test whether buyers view this as a pullback to support or the start of consolidation after a strong run.

NVIDIA Corporation (NVDA)

NVIDIA opens at 186.25, and bulls will look to defend this zone to push for a rebound. A climb through 187.10 may encourage further momentum into 188.00 and 188.85. If strength holds, price could stretch into 189.70, with continued buying bringing the tape toward 190.55. Each move higher will show traders regaining confidence after recent consolidation. 

If 186.25 breaks, sellers may lean into 185.25. A breach here can bring 184.25 and 183.25 into play. With stronger pressure, NVDA could test 182.30 and 181.35 before stabilizing. Each drop lower represents potential exhaustion zones for sellers, where buyers might look for reentry.

Alphabet Inc Class A (GOOGL)

Alphabet begins the session at 249.25, and bulls will aim to preserve control at this level. A push above could lift price into 250.15 and 251.10, with continuation bringing 252.00 into focus. If momentum builds, look for a potential extension into 252.95 and 253.85. These levels would represent a steady grind higher amid light macro catalysts. 

If 249.25 fails, sellers may look to drag price into 248.30. A break there could bring 247.35 and 246.45 into play, with heavier downside reaching 245.55. If weakness persists, a final flush toward 244.65 is possible. Watching how buyers react at each level will reveal whether the tape is setting up for rotation or continuation weakness.

Meta Platforms Inc (META)

Meta opens at 717.25, with bulls attempting to stabilize after a volatile stretch. A move above could bring 719.35 and 721.45 into play. Continued follow-through may lift price into 723.50 and 725.55, with further upside potentially extending into 727.65. Each progression higher signals strength returning to a stock that’s been heavily traded in recent sessions. 

If 717.25 breaks, sellers may test 715.20. Losing that level would expose 713.10 and 711.05, with continued pressure potentially dragging price into 709.00. If momentum deepens, META may test 706.90 before stabilizing. These downside checkpoints show where liquidity might cluster in a thinner, headline-driven session.

Tesla Inc. (TSLA)

Tesla starts the day at 450.00, where bulls will look to defend early footing. A push higher could carry price into 451.55, followed by 453.10 and 454.60. Sustained momentum through these levels might drive TSLA into 456.20, with an extended bullish move reaching 457.75. Each step upward shows how eager buyers are to reestablish short-term control. 

If Tesla loses 450.00, sellers may quickly press into 448.45. A break there could draw price into 446.90 and 445.40, with a heavier decline testing 443.85. Continued downside could reach 442.30 before stabilization attempts emerge. Each lower level reflects areas where buyers might try to step in but risk getting trapped if volatility picks up.

Final word: Good luck and trade safely.

Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.