Good Morning Traders!

Today's economic calendar continues this volatile week with a fuller slate of economic releases as traders position ahead of Wednesday's FOMC rate decision. The day begins with the Weekly ADP Employment Change, followed by the New York Fed Services Business Activity report and Redbook Retail Sales, all providing insight into labor and consumer trends. At 10:00AM ET, markets will receive the Leading Index and Pending Home Sales data, offering a broader look at economic momentum and housing conditions. 

Treasury activity picks up into the midday session with the 4 and 8 Week Bill Announcement at 11:00AM ET, followed by the 52 Week Bill Auction at 11:30AM ET and the 20 Year Bond Auction at 1:00PM ET. Despite today's data, the primary focus remains on positioning around major catalysts this week, including futures expiry, MOPEX on Friday, and the FOMC decision on Wednesday. Expect elevated volatility as institutions adjust exposure and react to incoming data in an event driven environment.

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

SPDR S&P 500 ETF Trust (SPY)

SPY is currently trading around 668.25 as markets continue navigating a high volatility week packed with macro catalysts. If buyers defend this level early, a move toward 672.00 may develop, followed by 675.50 if momentum builds into the morning session. Sustained strength above 679.00 would signal improving positioning ahead of the FOMC decision. 

If SPY loses 668.25 with conviction, sellers may press into 664.75. A breakdown there could expose 661.25, and continued weakness may bring 657.75 into focus. Expect intraday volatility to remain elevated with traders adjusting exposure ahead of Wednesday.

Invesco QQQ Trust Series 1 (QQQ)

QQQ is currently trading around 599.00 and hovering right at the key 600 psychological level as growth stocks remain sensitive to rate expectations. Holding this pivot could allow a push toward 603.25, followed by 607.00 if mega cap tech stabilizes. A sustained break above 610.50 would suggest stronger upside momentum returning to the Nasdaq. 

If 599.00 fails to hold, sellers may drive price toward 595.25. A deeper breakdown could expose 591.50, and continued weakness may target 587.25. Semiconductor direction will likely dictate much of the Nasdaq's movement.

Apple Inc. (AAPL)

AAPL is currently trading around 252.00 and attempting to find support after recent downside pressure. If buyers defend this level, price may rotate toward 255.25, followed by 258.50 if broader tech sentiment improves. Sustained strength above 261.75 would indicate renewed institutional demand. 

If 252.00 breaks lower, sellers may test 249.25. Continued downside pressure could extend into 246.50, and deeper weakness may bring the 243.75 region into play.

Microsoft Corp. (MSFT)

MSFT is currently trading around 398.75 and sitting just below the 400 psychological level. If buyers reclaim that level early in the session, price may push toward 402.50, followed by 406.75 if momentum builds. A sustained move above 410.25 would reflect strengthening large cap participation. 

If 398.75 fails to hold, sellers may press into 395.25. A deeper pullback could test 391.50, and continued weakness may bring the 387.75 region into focus.

NVIDIA Corporation (NASDAQ:NVDA)

NVDA is currently trading around 183.50 and remains a key driver of overall tech sentiment. If buyers defend this pivot, a move toward 187.75 may develop, followed by 191.25 if semiconductor strength expands. Sustained trade above 195.00 would indicate renewed upside momentum in the AI space. 

If 183.50 breaks lower, sellers may test 180.25 quickly. Continued downside could extend into 176.75, and deeper weakness may bring the 173.25 region into view.

Alphabet Inc Class A (GOOGL)

GOOGL is currently trading around 304.25 and holding above the key 300 level. If buyers maintain control here, price may rotate toward 307.75, followed by 311.25 if communication services strengthen. A sustained break above 314.50 would signal improving upside participation. 

If 304.25 fails to hold, sellers may guide price toward 300.75. A breakdown there could expose 297.25, and continued weakness may bring the 293.75 region into focus.

Meta Platforms Inc (META)

META is currently trading around 625.25 and consolidating after recent volatility. If buyers defend this level, a push toward 630.75 may develop, followed by 635.50 if upside momentum builds. Sustained strength above 640.25 would indicate continued leadership within the sector. 

If 625.25 breaks lower, sellers may guide price toward 620.75. A deeper pullback could test 616.50, and continued weakness may bring the 612.25 region into play.

Tesla Inc. (TSLA)

TSLA is currently trading around 395.00 and remains highly reactive to broader market flows. If buyers defend this pivot, a move toward 401.25 may develop, followed by 406.75 if speculative momentum builds. Sustained strength above 412.25 would signal stronger upside participation. 

If 395.00 fails to hold, sellers may test 390.50 quickly. Continued downside could extend into 386.00, and deeper weakness may bring the 381.50 region into focus.

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.