This roundup covers trading conditions for SPY, QQQ and major technology stocks. SPY trades around 767.25, above Monday's close of 765.37. SPY faces resistance between last Thursday's high of 767.71 and Monday's high of 767.73. A sustained advance above that range could take SPY toward 768.40, the October 21 low, and then 770.46, the October 19 high. Reaching those levels would recover most of last week's decline.
A sustained decline below Monday's close of 765.37 would make the 765 strike, which has heavy put positioning, an important support area. Losing that level could take SPY toward Friday's high of 763.47 and then Monday's low of 761.63. A rapid recovery above 767.73 would weaken that downside scenario. SPY's share volume on Monday was lower than in any of the preceding four sessions, making stronger buying participation important at resistance.
QQQ trades around 714.75 after rebounding 1.1% on Monday. QQQ approaches resistance between 715.25 and 715.43, where advances stopped on Monday and last Thursday. A sustained recovery above that range could take QQQ toward last Wednesday's low of 719.71, near heavy options positioning at the 720 strike. The next reference is 722.75 from October 20, although reaching that level would probably require support from major technology companies reporting this week.
A decline below Monday's close of 712.20 would make the 710 strike an initial support area, just above Friday's high of 709.30. The 710 strike has some of the largest open interest among QQQ options. A sustained break below 709.30 could bring Monday's low of 705.58 into consideration. Holding above 715.43 would weaken that downside scenario. QQQ's largest net options selling on Monday occurred in the 690 and 720 puts. QQQ's largest individual options trade involved 700 puts expiring this Friday.
The Federal Reserve starts a two-day meeting today. The rate announcement is scheduled for Wednesday at 2:00PM ET, followed by a press conference at 2:30PM ET. Markets assign a high probability to unchanged rates after September's increase. Federal Reserve officials are observing a quiet period, with no officials scheduled to speak today. Futures are slightly higher after Monday's semiconductor-led rally. TSLA, NVDA and GOOGL lead the Magnificent 7 in premarket trading, while MSFT and AAPL trail.
Today's main scheduled economic release is September Durable Goods Orders, a measure of orders for long-lasting products and an indicator of business investment. Forecasts anticipate a strong recovery after August's flat result. Conference Board Consumer Confidence and New Home Sales follow, providing information about households while oil remains above 100 dollars a barrel. The Treasury auctions five-year notes at 1:00PM ET, with the 10-year yield just below 5%.
The roundup also covers AAPL trading around 342.25 after Monday's 1.1% decline, Apple offering replacements for early iPhone Duo devices with display problems, Counterpoint Research reporting stronger initial iPhone 18 Pro sales than last year's model, and Apple's earnings scheduled after the close on November 2; MSFT trading around 528.75 after Monday's 1.5% gain, ahead of Wednesday's after-close earnings; NVDA trading around 217.25 after Monday's 2.4% rise following Nvidia's agreement to invest $3 billion in Meta's stock offering and broaden chip and systems supplies for Meta's Muse AI platform; GOOGL trading around 318.25 after five consecutive declines and Monday's 1.1% fall to 316.80, the lowest close since at least May, ahead of Wednesday's after-close earnings; META trading around 631.25 after Monday's 1.9% decline on the day Meta announced a substantial stock offering to finance AI expansion; and TSLA trading around 396.75 after Monday's 5.2% gain following Barclays' upgrade to Overweight and price-target increase to 450.00.
FLASH AI Analyzes Trading Conditions for SPY, QQQ, and Major Tech Stocks
BenzingaShare
Summary
The fear and greed index shows mixed signals as SPY trades near 767.25, facing resistance between 767.71 and 767.73. A breakout could target 768.40 and 770.46, while a drop below 765.37 may push toward 765 and 761.63. QQQ nears 714.75, with resistance at 715.25–715.43 and support at 710 and 709.30. TSLA, NVDA, and GOOGL lead premarket gains amid shifting macro conditions. The Fed meets today, with a rate decision due Wednesday. Key data includes September Durable Goods Orders and Treasury auctions.
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