Market Clubhouse Morning Memo - August 16th, 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 experienced a dip overnight but is currently trading above our crucial support level of 442.61. Bullish traders will aim for an upward movement, targeting the next levels at 443.42 and 443.90. If the momentum remains strong above 443.90 with significant buying activity, we could see a surge towards our top bullish target for the day at 445.08.

Conversely, if 442.61 breaks under significant selling pressure and the 442.04 level is tested, we anticipate bearish traders to push the price towards 441.62. Our ultimate bearish target for the day stands at 441.06.

Invesco QQQ Trust Series 1

The Q's QQQ remained stable overnight and are hovering just below our pivotal level of 366.69. Bullish traders will look for a clear upward momentum above 366.69, targeting 367.52. With continued buying, our top bullish target for the day is 368.57.

If trading struggles to surpass 366.69, bearish forces might drive the price to 366.15. If this level proves fragile, a further decline to 365.59 could occur. In the event of a significant sell-off, our bearish target for the day is 364.65.

Apple Inc.

Apple AAPL is trading slightly above our pivotal level of 177.31. On the upside, bullish traders are eyeing 178.61 as the next target, with the day's top bullish target at 179.36.

On the downside, if 177.31 support falters, bearish momentum could push the price to 176.29. In the case of a significant decline, our bearish target is 175.81.

Microsoft Corp.

Microsoft MSFT is trading just shy of our crucial support level of 321.51. Bullish traders aim to surpass this mark, targeting an upward move towards 323.17. With strong buying, we could see a move towards the day's top bullish target of 324.81.

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 129.52. If this support remains intact, bullish momentum could target 130.41, with the day's top target at 131.28.

Conversely, if 129.52 doesn't hold, bearish forces might push the price to 128.91. The day's ultimate bearish target for Alphabet is 128.34.

Meta Platforms Inc

Meta META is hovering around our pivotal level of 300.23. Bullish traders will aim to maintain this as support, targeting an upward move to 301.71. On strong buying, our top bullish target for the day is 304.77.

If 300.23 fails to hold, bearish momentum might drive the price to 297.33. A significant decline could test our ultimate bearish target for the day at 293.91.

NVIDIA Corporation

For NVIDIA NVDA, bullish traders will aim to secure and maintain 442.76 as support. If momentum remains positive, the price could target 447.05. With sustained buying, our top bullish target for the day is 450.04.

If 442.76 fails to hold, bearish forces might drive the price to 439.87. Intense selling could test our support at 436.56, with the day's ultimate bearish target at 434.01.

Final Word: Today's session will be influenced by pre-market data releases and the FOMC minutes release at 2PM ET. Monitor volume closely and ensure disciplined trading. Wishing everyone a successful trading day!

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.