Good Morning Traders!



Today's economic calendar for Thursday brings a packed schedule of economic data and market moving catalysts. The morning begins with Jobless Claims, Housing Starts, Building Permits, and Philly Fed Business Outlook, followed by Preliminary PMI data. These releases provide fresh insight into labor markets, manufacturing activity, housing demand, and overall economic momentum. 



Treasury activity remains heavy throughout the day with multiple announcements and auctions, while Natural Gas Inventories and Kansas City Fed Manufacturing data add additional macro inputs. Fed commentary also continues with appearances from Austan Goolsbee and Thomas Barkin. Meanwhile, markets continue digesting Nvidia earnings after the company once again beat expectations and raised guidance, though the stock initially traded lower after hours. Expect elevated volatility and fast reactions throughout the session as traders balance macro data with post earnings semiconductor movement.



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



SPDR S&amp;P 500 ETF Trust (SPY)



SPY is currently trading around 739.75 as markets digest Nvidia earnings alongside a packed economic calendar. If buyers defend this level through the early data releases, a move toward 745.00 may develop, followed by 750.25 if momentum builds into the afternoon. Sustained strength above 755.50 would signal continued upside expansion despite post earnings volatility in tech. 



If SPY loses 739.75 with conviction, sellers may press into 734.75. A breakdown there could expose 729.75, and continued weakness may bring the 724.75 region into focus. Expect elevated volatility around the 8:30AM ET and 9:45AM ET data windows.



Invesco QQQ Trust Series 1 (QQQ)



QQQ is currently trading around 710.50 and remains resilient despite Nvidia pulling back after earnings. If buyers defend this pivot, a push toward 717.00 may develop, followed by 723.50 if momentum rebuilds after the initial earnings reaction. Sustained strength above 730.00 would indicate continued leadership in growth stocks. 



If 710.50 fails to hold, sellers may drive price toward 704.75. A deeper breakdown could expose 699.00, and continued weakness may bring the 693.25 region into play. Watch semiconductor price action closely throughout the session.



Apple Inc. (AAPL)



AAPL is currently trading around 301.25 and continuing to hold strong structure above the key 300 level. If buyers defend this pivot, price may rotate toward 306.00, followed by 310.75 if momentum builds. Sustained strength above 315.50 would indicate continued institutional demand and bullish continuation. 



If 301.25 breaks lower, sellers may test 296.75 quickly. Continued downside pressure could extend into 292.25, and deeper weakness may bring the 287.75 region into focus.



Microsoft Corp. (MSFT)



MSFT is currently trading around 418.25 and continuing to stabilize after recent consolidation. If buyers defend this pivot, price may push toward 424.00, followed by 429.75 if momentum builds. A sustained move above 435.50 would signal renewed upside continuation in large cap tech. 



If 418.25 fails to hold, sellers may press into 413.25. A deeper pullback could test 408.25, and continued weakness may bring the 403.25 region into play.



NVIDIA Corporation (NVDA)



NVDA is currently trading around 224.25 after another strong earnings report that still resulted in a muted after hours reaction. If buyers defend this pivot, a move toward 231.25 may develop, followed by 238.25 if momentum rebuilds after the initial earnings digestion. Sustained trade above 245.25 would indicate continued aggressive upside expansion. 



If 224.25 fails to hold, sellers may test 218.25 quickly. Continued downside could extend into 212.25, and deeper weakness may bring the 206.25 region into focus. Expect elevated volatility all session long.



Alphabet Inc Class A (GOOGL)



GOOGL is currently trading around 388.50 and continuing to consolidate after recent weakness. If buyers defend this level, price may rotate toward 395.00, followed by 401.50 if momentum builds. Sustained strength above 408.00 would indicate stronger upside participation. 



If 388.50 fails to hold, sellers may guide price toward 382.50. A breakdown there could expose 376.50, and continued weakness may bring the 370.50 region into play.



Meta Platforms Inc (META)



META is currently trading around 603.25 and continuing to stabilize after prior weakness. If buyers defend this pivot, a push toward 610.50 may develop, followed by 617.75 if momentum rebuilds. Sustained strength above 625.00 would indicate stronger recovery participation. 



If 603.25 breaks lower, sellers may guide price toward 596.25. A deeper pullback could test 589.25, and continued weakness may bring the 582.25 region into focus.



Tesla Inc. (TSLA)



TSLA is currently trading around 422.50 and continuing to trade with elevated volatility. If buyers defend this pivot, a move toward 431.25 may develop, followed by 440.00 if momentum continues. Sustained strength above 448.75 would indicate stronger upside participation. 



If 422.50 fails to hold, sellers may test 414.00 quickly. Continued downside pressure could extend into 405.50, and deeper weakness may bring the 397.00 region into play.



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.

TSLA

NVDA

Today's economic calendar includes Jobless Claims, Housing Starts, and PMI data, impacting market volatility. SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA are under focus as traders react to Nvidia's earnings and macro data. Key price levels for each stock are outlined, with potential movements based on market reactions. Expect elevated volatility throughout the session as traders balance earnings results with economic indicators.

- Today's economic calendar includes significant releases such as Jobless Claims, Housing Starts, and Preliminary PMI data, affecting market activity.  
- SPY is trading around 739.75, with critical resistance and support levels outlined, while other stocks like AAPL, MSFT, NVDA, and TSLA also show defined pivots and potential movements based on momentum.  
- Elevated volatility is expected as traders respond to macro data and post-earnings performances from key companies like Nvidia.

Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, And TSLA