PMI Data and Treasury Auctions Set to Drive Market Trend Today

The September Preliminary S&P Global Manufacturing, Services, and Composite PMIs are set to be released at 9:45AM ET today. This data is expected to provide a clean read on current business activity across both manufacturing and services sectors of the economy. Traders will be looking not only for headline activity measures but also whether the data shows broad-based strength or weakness.

Other events scheduled for today include the release of Crude Oil, Gasoline, and Distillate Inventories at 10:30AM ET, followed by the 2 Year FRN Auction at 11:30AM ET and the 5 Year Note Auction at 1:00PM ET. The Treasury auction could create a second volatility window if demand surprises expectations.

Meanwhile, Fed Governor Barr will participate in a fireside chat shortly after the PMI release, which may influence Treasury yields even in an otherwise quiet session. Today's PMI data is expected to remain the main macro checkpoint, while yields, technical positioning, and technology leadership will determine whether any move develops into a broader trend.

Looking at specific assets, SPY is currently trading around 773.00, with potential support levels at 767.00 and resistance levels at 791.00. QQQ is trading around 745.50, with potential support levels at 739.00 and resistance levels at 766.50.

AAPL is trading around 340.50, with potential support levels at 335.50 and resistance levels at 356.25. MSFT is trading around 502.50, with potential support levels at 495.50 and resistance levels at 524.25.

NVDA is trading around 227.75, with potential support levels at 221.75 and resistance levels at 249.50. GOOGL is trading around 351.00, with potential support levels at 345.00 and resistance levels at 370.50.

META is trading around 739.00, with potential support levels at 731.50 and resistance levels at 763.00. TSLA is trading around 378.00, with potential support levels at 370.00 and resistance levels at 403.50.