Market Clubhouse Morning Memo - May 25th, 2023 (Trade Strategy For SPY, TSLA, NVDA, AMZN, And MSFT)

Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, TSLA, NVDA, AMZN, and  MSFT. Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members during our daily Morning Call, prior to the opening of the market.

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. Now, let's dive into the stock analysis:

SPDR S&P 500 ETF Trust 

SPY SPY, a prominent ETF tracking the S&P 500, had a massive recovery bounce towards the end of the day yesterday and into the afterhours session. Today we find ourselves between the channels 413.59 and 415.08.

If we find continued bullish momentum throughout the session, we have upside targets of 415.71 and 416.54.

If the market starts to roll and 413.59 is breached to the downside, expect targets of 412.97 and 412.59.

Traders should be aware of the potential volatility during the Fed speech from Barkin and Collins today at 9:50AM EST and 10:30 EST respectively.

Tesla Inc.

Tesla TSLA, the renowned EV manufacturer, had a massive amount of buyers show up on the tape after a short sell-off in the early morning session yesterday.

Tesla is currently holding the key level of 186.10. We have two important upside levels of 187.88 and 189.22 that could potentially be explored today if the buying continued to persist.

However if Tesla cannot find the strength to continue the upward trajectory, 184.10 may be tested to the downside. Further weakness across the market could bring it down to 182.53

NVIDIA Corporation

NVDA NVIDIA, the global tech giant, had a tremendously strong earnings report yesterday after the bell. We see the potential of it making new all time highs today as long as 399.50 can hold to the upside.

If NVIDIA has profit-takers looking to sell it down, we could see 384.47 tested to the downside. Further weakness would target 379.12 and potentially 370.77.

Amazon.com, Inc. AMZN Amazon, a global technology behemoth with diverse interests, had another mixed session yesterday and now sits between our channel of 115.94 and 117.15.

If Amazon can find buyers today, expect 117.15 to get breached to the upside with a target of 118.05.

If there are sellers today willing to sell through 115.94, we have a downside target of 114.98.

Microsoft Corp. MSFT Microsoft, a tech titan, is currently testing our topside level of 323.17. If the market remains bullish, we have a solid target of 326.05.

If the sentiment shifts to bearish momentum, we could see 321.51 be tested to the downside with further targets of 320.05 and ultimately 318.18.

Final Word: Today's session has two Fed speakers on deck today. It's paramount to keep your head on a swivel and trade around this data if you're not an experienced trader. The options chains in tech should provide a lot of opportunities for traders if they are keen on managing their risk effectively. Good luck today!

Professional trader 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. Join RIPS in his live trading room every day at https://MarketClubhouse.club/Free where you can trade live with him and tap into his wealth of knowledge and experience.