Market Clubhouse Morning Memo - May 17th, 2023 (Trade Strategy for SPY, TSLA, NVDA, and GOOGL)

Today, Market Clubhouse is setting its sights on SPY, TSLA, NVDA, and GOOGL. We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market's pulse to optimize your trading gains.

SPDR S&P 500 ETF Trust SPY The SPY, a prominent ETF reflecting the S&P 500, is currently sitting comfortably in the 411.67 to 412.07 channel. An upward break could see targets at 412.59 and 412.97. A particularly bullish market might push it as high as 413.59 and beyond.

Should 411.67 start to falter, watch for targets at 411.07 and 410.47. Ideally, 410.07 should serve as a strong support base.

Tesla Inc. TSLA Tesla, the renowned EV manufacturer, is struggling to breach the 169.74 resistance level. If this level remains unbroken, a downward trend may be confirmed with a break below 167.57 targeting 166.08 and 165.38.

However, if TSLA succeeds in surmounting 169.74 with bullish momentum, the upside target rests at 172.16.

NVIDIA Corporation NVDA Nvidia, the global tech giant, is currently trading within the 294.10 to 297.24 channel. A strong push beyond 297.24 could set NVDA on a bullish path, aiming for 300.63.

Should there be an overall bearish climate in tech today, Nvidia could drop below 294.10, with a downside target of 291.29.

Alphabet Inc Class A GOOGL Alphabet Inc., the tech conglomerate, is holding steady at 119.58, with the upper channel limit at 120.96. A bullish breakout could set a target of 122.87.

If Google lacks the necessary momentum to break upward, a weak market could send it down towards 116.96.

RIPS, a seasoned veteran in equities, options, and futures trading, is at the heart of the Market Clubhouse, offering his insights and expertise in the fast-paced world of trading. Start your day with daily market analysis, a carefully selected watch list, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. You can join RIPS in his live trading room every day at http://MarketClubhouse.club/Free and gain access to his invaluable knowledge and experience.