Market Clubhouse Morning Memo - August 14th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, GOOGL, META, And NVDA)

Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, GOOGL, META, 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 showing an overnight gap up, aiming to reclaim our pivotal 446.31 mark. If it sustains above this today, bulls might set their sights on 447.94. With sustained buying momentum, we anticipate a surge to the day's bullish peak of 449.42.

Conversely, if 446.31 faces a downturn, a bearish move towards 445.08 is anticipated. A further decline could see 443.90 and then 443.42. In the event of intense selling, our bearish floor is 442.61.

Invesco QQQ Trust Series 1

The Q's QQQ have shown an overnight gap up and hover just above our 366.69 benchmark. If this level remains resilient, bulls might target 367.52, with potential ascents to 368.57. The day's bullish peak is set at 369.39.

However, if the 369.69 mark falters, a bearish descent to 366.15 is anticipated. A further decline could see 365.59, with a bearish extreme at 364.65.

Apple Inc.

Apple AAPL is trading within our 177.31 to 178.61 channel. We anticipate a breakout from this range this week. On the upside, bulls could target 179.36, with an optimistic ceiling at 180.60.

A breach below 177.31 could see bears eyeing 176.29, with a potential floor at 175.09.

Microsoft Corp.

Microsoft MSFT has shown an overnight gap up but hasn't sustained our 323.17 support. Bulls would aim to recover this, potentially targeting the day's bullish zenith of 326.05.

If 323.17 remains elusive, bears might push towards 321.51, with a pessimistic base at 320.05.

Alphabet Inc Class A

Google GOOGL trades beneath our 130.41 marker. If this persists, bears might target our support at 128.91. With strong selling momentum, the bearish nadir could be 127.71.

A recovery above 130.41 could see a bullish move to our high bull target of 131.28.

Meta Platforms Inc

Meta META trades below our 301.71 threshold. Bulls would aim to surpass this, with a potential surge to the day's bullish peak of 304.77.

Failing to surpass 301.71 could see a bearish move to 300.23. If this crucial support at 300.23 is breached with significant selling, our bearish floor is set at 297.33.

NVIDIA Corporation

NVIDIA NVDA is trading below our 409.31 benchmark. If this persists, bears might target 405.18, with a bearish nadir at 402.12.

A recovery above 409.31 could see a bullish move to the higher target of 413.76.

Final Word: Today's trading session is likely to be subdued, given the lack of scheduled data releases. This might result in a quieter session with reduced volume. Stay cautious and trade wisely. Best of luck!

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.

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