Market Clubhouse Morning Memo - July 7th, 2023 (Trade Strategy For SPY, QQQ, AAPL, META, MSFT, TSLA, and NVDA)

Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, META, MSFT, TSLA, and NVDA.

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 is currently maintaining above the crucial point of 438.78. If this can be upheld with the market's strength, our aim is to reach the higher targets of 439.66 and 440.34. Should the latter level be maintained, our ultimate goal for the bullish market is 441.06.

If the market falters, and signs of weakness become apparent today, we anticipate a test of the 438.78 level towards the downside. If this level is compromised and widespread selling occurs, bearish trends will likely target 437.92, with an ultimate bearish target of 437.02.

Invesco QQQ Trust Series 1

The Q's QQQ currently lie within our 366.69 and 367.52 channels. Given strength in tech across the market today, the bullish aim is to reach 368.57 and 369.39.

However, if the tech sector weakens and sales increase, the bears might test 366.69, with further potential for 365.59 and 364.65 if the downturn continues.

Apple Inc.

Apple AAPL is currently maintaining well above our main level of 191.25 in premarket trading this Friday. If this level can be held today, our bullish targets are 192.21 and 192.60. An extremely strong market session could even see the target rise to 193.18.

If the market shows signs of struggle to maintain 191.25, and a sell-off occurs, lower targets of 190.33 and 189.16 could be anticipated.

Meta Platforms Inc

Meta META is struggling to recover 293.91 in this Friday's premarket trade, having successfully held our support level at 288.87. With substantial flow into 300 strike 0DTE calls today, we're anticipating a test of 297.33 on the upside, with a high aim of 300.23.

A less active session may see 288.87 tested as support, potentially dropping to lower support levels of 286.94 and 285.10.

Microsoft Corp.

MSFT Microsoft is currently standing firm above our main level of 340.36. As long as this level continues to act as support, and if 341.41 is breached upwards, the bulls could aim for 343.68.

However, if the market weakens, the bears might aim for 339.02 and 337.80 on the downside.

Tesla Inc.

Tesla TSLA maintains above our key level of 275.07 in this Friday's premarket session. If this level is upheld today, we aim for the upside targets of 278.11 and 279.43. An exceptionally bullish session could even target 281.32.

If the market undermines the 275.07 level today, we anticipate the bears to drive the market to 272.42. Extended weakness could see the market drop to 269.48.

NVIDIA Corporation  

NVIDIA NVDA is striving to recover 421.35 in this Friday's premarket trade. If this key level is held, the bullish aim is 424.83.

However, if the session underperforms, the bears are likely to target 419.36. If this level doesn't hold, the bears might try for 413.76 on the downside.

Final Word: Today's market performance may vary due to the expiration of all weekly option contracts today and anticipated lower volume. Ensure to adhere to your standard risk measures while exercising discipline. Wishing you a great Friday and successful trading!

The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.

Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will get early access to the Morning Memo just like this one every single day, hours before it goes to publication. For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at https://marketclubhouse.club/7Days/ where you can trade live with him and tap into his wealth of knowledge and experience.