Market Clubhouse Morning Memo - August 15th, 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 has experienced an overnight gap down and is striving to recover above our pivotal level of 445.08. If trading remains resilient above this mark, bullish momentum could drive the price towards our next target of 446.31. With sustained buying pressure, we could see a surge towards our top bullish target for the day at 447.94.

Conversely, if 445.08 isn't secured by bullish forces, significant selling pressure could push us towards 443.90. Our ultimate bearish target stands at 443.42.

Invesco QQQ Trust Series 1

The Q's QQQ have seen an overnight gap down and are hovering just below our pivotal level of 368.57. If bullish momentum can sustain above this level, we anticipate a move towards 369.39. With continued buying, 370.08 might be in sight, with the day's top bullish target at 370.91.

If trading struggles to maintain above 368.57, bearish forces might drive the price to 367.52. If this level proves fragile, a further decline to 366.69 could occur. In the event of significant selling, our bearish target for the day is 366.15.

Apple Inc.

Apple AAPL is currently trading slightly above our pivotal level of 178.61. On the upside, we're eyeing 179.36 as the next target for bullish traders. The day's top bullish target for Apple stands at 180.60.

On the downside, if 178.61 support falters, bearish momentum could push the price to 177.31. In the case of a significant decline, our bearish target is 176.29.

Microsoft Corp.

Microsoft MSFT  is hovering around our crucial support level of 321.51. Bullish traders would want the price to remain above this mark, aiming for a rally towards 323.17. With strong buying, we could see a move towards the day's top bullish target of 326.05.

If 321.51 fails to hold, bearish momentum might drive the price to 320.05. In the event of intense selling, our bearish target for the day stands at 318.48.

Alphabet Inc Class A

Alphabet GOOGL is trading slightly above our pivotal level of 130.41. If this support remains intact, bullish momentum could target 131.28, with the day's top target at 131.76.

Conversely, if 130.41 doesn't hold, bearish forces might push the price to 129.52. The day's ultimate bearish target for Alphabet is 128.91.

Meta Platforms Inc

Meta META is trading around our pivotal level of 304.77. Bullish traders would aim to maintain this as support, targeting an upward move to 308.16. The day's top bullish target for Meta stands at 309.51.

If 304.77 fails to hold, bearish momentum might drive the price to 301.71. A significant decline could test the 300.23 level. In the event of intense selling, our bearish target for the day is 297.33.

NVIDIA Corporation

Following a strong session dominated by buyers, NVIDIA NVDA is in focus after Morgan Stanley's 'top pick' recommendation. If this bullish sentiment persists, we're looking for 447.05 to serve as support. A strong trading day could see the price targeting 450.04, with the potential to reach our top bullish target of 454.09.

If 447.05 fails to hold, bearish forces might drive the price to 442.76. Intense selling could test our support at 439.87, with the day's ultimate bearish target at 436.56.

Final Word: Today promises a dynamic trading session with numerous data points to consider, potentially leading to increased volatility. Stay alert, trade wisely, and 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.

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.