Good Morning Traders!

Today’s economic calendar opens the week with a lean slate that may keep trading activity muted. At 11:00 AM ET, the NY Fed 1-Year Inflation Expectations for July will drop, giving a quick read on near-term price pressures, alongside the Treasury's 3-Month and 6-Month Bill Auction at 11:30 AM ET, which could nudge short-term yield trends. 

With the light economic data load, expect potentially low liquidity coupled with higher volatility during regular trading hours, as traders zero in on breaking news headlines for direction. 

In this sparse setup, stay nimble with risk management and lean on solid setups to tackle any sudden moves.

We will now discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.

SPDR S&P 500 ETF Trust (SPY)

SPY is currently holding around the 638.50 level. If buyers step in early, the next upside pivot to watch is 639.75. A firm push above that may attract momentum traders aiming to lift the tape toward 641.29. Should this level stabilize as support, it could trigger a further advance to 642.15. The most optimistic bull target on the day is 643.09, contingent on consistent strength and volume. 

If 638.50 fails to attract buyers, the bears may press toward 637.00 as their first target. Weakness beneath that opens the door for a slide to 635.75. Breaking this level decisively could see SPY quickly trading down toward the key support at 634.01. If the session trends strongly to the downside, our final bear target rests at 632.46.

Invesco QQQ Trust Series 1 (QQQ)

QQQ is currently orbiting the 575.00 zone. If bulls can establish control above 576.11, look for a move into 577.47 as the next level of interest. Strength through that area suggests 579.05 is in reach, with an extension to 580.44 on elevated buy-side flow. Our highest upside target for the day is 581.12, should the broader market cooperate. 

If 575.00 is lost during the session, sellers are likely to test support at 573.34. A sustained break there invites further downside action toward 571.70. Continued pressure could then bring the tape down to 570.06. If bears dominate, 568.72 becomes the key target to end the day.

Apple Inc. (AAPL)

Apple is hovering near 228.50 as we begin the session. A strong early move through 229.34 could ignite interest and send price to test 229.68. If bulls retain control, the next level in focus is 230.67. The bullish roadmap for today points to a potential peak at 231.89 if momentum persists. 

Failure to hold 228.50 sets the stage for a slide toward 228.07. If selling escalates from there, we could see price tag 227.62. Breaking through this zone with continued volume opens the door to 226.85, with 225.42 sitting as the final bear target on heavy weakness.

Microsoft Corp. (MSFT)

Microsoft is actively trading around 523.50. Bulls want to build a base here and advance toward 526.25. Holding that level as support could provide the fuel needed to climb to 527.73. Should buyers stay engaged, 529.46 is the level to beat for the session's bullish top. 

If 523.50 gives way to downside momentum, the bears may challenge 520.74. Cracking that level exposes 518.74, and persistent selling could continue dragging MSFT to 516.89. If sellers remain in charge through the afternoon, our downside goal stands at 515.51.

NVIDIA Corporation (NVDA)

NVIDIA is floating near the 181.50 mark to start the day. Bulls will be watching for a push to 182.75 and to see this area flip into firm support. A clear hold above that could encourage a move toward 183.83, and continued upside enthusiasm may bring 185.17 into view. The bullish ceiling on the day sits at 186.13. 

If NVIDIA breaks down from 181.50, 180.95 becomes the first test. Further weakness could drag the tape to 180.18. If that level caves, look for a move down to 178.29. Heavy downside pressure today could push the stock to its session low target of 176.86.

Alphabet Inc Class A (GOOGL)

Alphabet is currently balanced around the 201.50 level. Bulls want to see a lift toward 202.64 and for that level to serve as a springboard higher. Should that materialize, look for the rally to extend into 204.37. Momentum continuation could drive GOOGL toward the bullish peak at 205.48. 

If 201.50 collapses under pressure, sellers are likely to move swiftly toward 199.70. A breach of that may result in further declines to 197.40. If the bears remain active and news sentiment turns sour, a flush to 195.67 is on the table.

Meta Platforms Inc. ( META)

Meta is consolidating around the 770.00 mark. Bulls are targeting 777.10 on the upside as the next logical step if strength develops. A follow-through from there brings 781.09 into focus. Should bullish sentiment stay intact, 785.17 is our high watermark for the session. 

Should 770.00 break early, expect downside probes toward 764.39. If sellers stay aggressive, the auction may revisit 756.52. A break below this support zone puts 750.15 within reach for today's bear target.

Tesla Inc. (TSLA)

Tesla is trading near the 334.00 zone this morning. Buyers are eyeing 344.09 as their next milestone, followed by a potential stretch up to 350.02. If bullish energy carries over, the key upside level points to 357.06. With a strong tailwind from the broader tape, a print at 363.28 isn't off the table. 

If 334.00 gives up, 328.29 is likely to be challenged. A move through that level could bring sellers down to 316.88. Sustained weakness may carry Tesla to a low of 321.86 before finding real support.

Final Word: Good luck, trade safely, and enjoy the start of the week!

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.