Market Clubhouse Morning Memo - August 17th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, 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 up, recovering some of yesterday's downturn. It's currently trading just above our pivotal support level of 441.06. Bulls will aim for an upward movement, targeting the next level at 441.62. If momentum remains strong above this, we anticipate the bulls taking charge, pushing towards 442.04. The day's top bullish target stands at 442.61.

Conversely, if 441.62 isn't secured by bullish forces, we expect the bears to challenge the 441.06 support. If sellers dominate, the price might descend to 440.34. A significant decline could test our strong support at 439.66, with the day's ultimate bearish target at 438.78.

Invesco QQQ Trust Series 1

The Q's QQQ have seen a slight overnight gap up and are hovering just above our pivotal level of 363.23. Bulls will look for a clear upward momentum above this mark, targeting 364.65. With continued buying, our top bullish target for the day is 366.69.

If trading struggles to maintain above 363.23, bearish forces might drive the price to 361.41. If this level proves fragile, a further decline to 360.08 could occur. In the event of a significant sell-off, our bearish target for the day is 357.94.

Apple Inc.

Apple AAPL is trading slightly above our level of 176.84. On the upside, bullish traders are eyeing 177.31 as the next target, with the day's top bullish target at 178.18.

On the downside, if 176.84 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 above our crucial support level of 320.05. Bullish traders aim to maintain this mark, targeting an upward move towards 321.51. With strong buying, we could see a move towards the day's top bullish target of 323.17.

If 320.05 fails to hold, bearish momentum might drive the price to 318.48. In the event of intense selling, our bearish target for the day stands at 316.04.

Meta Platforms Inc

Meta META is hovering above our pivotal level of 293.91. Bullish traders will aim to maintain this as support, targeting an upward move to 295.97. If momentum remains positive, the price could target the upper end of the channel at 297.33. Our top bullish target for the day is 300.23.

If 293.91 fails to hold, bearish momentum might drive the price to 291.18. A significant decline could test our ultimate bearish target for the day at 288.87.

NVIDIA Corporation

For NVIDIA NVDA, bullish traders will aim to secure and maintain 439.87 as support. If momentum remains positive, the price could target 442.76. With sustained buying, our top bullish target for the day is 447.05.

If 439.87 fails to hold, bearish forces might drive the price to 436.56. Intense selling could test our support at 434.01, with the day's ultimate bearish target at 432.36.

Final Word: As we head into today's session, traders will be digesting the limited pre-market data. In periods of low volume, it's essential to trade cautiously. 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.