Market Clubhouse Morning Memo - September 6th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, AMZN, And NVDA)

Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, AMZN, 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

Currently, SPY SPY is trading above our crucial level of 447.94. For bullish traders, we're eyeing a rally up to 449.42, which we'd like to see established as support. Should the upward momentum continue, we anticipate a move towards 450.23, with a high target for the day at 451.61.

Should the 447.94 level fail to hold, we expect bearish traders to aggressively sell down to 446.31. In the event of significant selling pressure, our bearish target for the day is 445.08.

Invesco QQQ Trust Series 1

At the moment, QQQ QQQ is trading below our key level of 377.58. For a bullish scenario, we aim to reclaim 377.58 as support. A break above this level on strong buying could propel the price to 378.93, with a high target for the day at 380.41.

If sellers dominate today's trading, we'll be watching 375.98 as a critical support level. Failure to maintain above this level could see bears taking control, pushing the price down to 375.18 and potentially testing 373.82. Our bearish target for the day is 372.91.

Apple Inc.

Apple AAPL has opened lower but is trading above our level of 188.32. For bullish action, we're looking for this level to serve as support, aiming for a rally to 189.16 and possibly 189.52. Our high target for bullish traders today is 190.33.

If 188.32 fails to hold, we anticipate a move down to 188.05. With continued selling, our bearish target for the day is 187.50, and if that level breaks, we're looking at 186.99.

Microsoft Corp.

Microsoft MSFT is trading above our key level of 331.24. For the bulls, we're looking for this level to hold as support, with an upward move targeting 333.46. Sustained bullish momentum could take us to our high target for the day at 337.80.

If 331.24 doesn't hold, we expect a sharp sell-off down to 328.52. Should this level break, our bearish target for the day is 326.05.

Amazon.com, Inc.

Amazon AMZN is hovering around our key level of 135.97. For bullish traders, we're looking for this level to act as support, aiming for a move to 137.22 and potentially 138.03 as our high target for the day.

If 135.97 fails to hold, we're watching for a test of the downside at 135.39. Should this level break, our bearish target for the day is 134.60.

NVIDIA Corporation

NVIDIA NVDA is trading around our key level of 483.43. For the bulls, we're looking for this level to hold and for the price to rally towards 489.04. If this level can be reclaimed, our high target for the day is 495.79.

If 483.43 fails to hold as support, we expect bears to push the price down to 478.67. Should this level break, our bearish target for the day is 473.81, with a possibility of reaching 470.17 if selling continues.

Final Word: oday's trading session is light on economic data and Fed commentary. Keep a close eye on key price levels to gauge market direction as we approach the latter part of the week, which is data-heavy. Best of luck today!

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.