Market Clubhouse Morning Memo - September 12th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, TSLA, META, NVDA, And AMZN)

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

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 trading close to our pivotal 447.94 mark. Bullish sentiments would favor a move above this, with a rally potentially reaching 449.42, solidifying it as a support. If momentum is sustained, we could see levels of 450.23, aiming for a peak of 451.01.

Conversely, if 447.94 doesn't serve as a reliable foundation, a bearish trend might pull it down to 446.31. Intense selling could further depress it to 445.08, with a potential floor for the day at 443.90.

Invesco QQQ Trust Series 1

The Q's QQQ are trading close to 375.18. Bullish traders would prefer it to remain above this mark, with an eye on 375.98 as the next support. Dominance by the bulls would be signified by trading above 375.98, potentially soaring to 377.58, with an apex target of 378.93.

However, if selling dominates, the 373.82 support might be tested. A failure to stay above this could lead to 372.91, and if the decline persists, 371.96, with the day potentially bottoming out at 370.91.

Apple Inc.

Apple's AAPL position is a tad above 179.36. Bullish traders would want this level to serve as a bedrock, aiming for an ascent to 180.60. If the positive trend holds, 181.25 is in sight, with an apex target of 182.27.

On the contrary, if 179.36 doesn't hold firm, a descent to 178.61 or even 178.18 is possible. Intense bearish activity might drag it to 177.31, with a potential floor at 176.84.

Microsoft Corp.

Microsoft's MSFT current position is just shy of 335.96. Bullish sentiments would favor a resurgence to this level, aiming to solidify it as support. If positive momentum is maintained, the next target is 337.80, potentially reaching 339.02, with an apex of 340.36.

However, if 335.96 proves unreliable, a descent to 333.46 is on the cards. Further decline could touch 331.24, with the day potentially bottoming out at 328.52.

Tesla Inc.

Tesla TSLA is currently positioned around 272.42. Those bullish on the stock are eyeing a stable base here, targeting a move towards 275.07. If the momentum remains positive, we could see levels reaching 278.11, with an ultimate goal of 281.32.

However, if 272.42 proves unstable, a downward shift to 269.48 or possibly 266.83 is anticipated, with the day's lowest expected point at 264.46.

Meta Platforms Inc

Meta META is hovering around the 308.16 mark. Optimistic traders would like this to act as a strong support, setting sights on 309.51, with a peak target of 311.42.

If, however, 308.16 fails to provide consistent support, a move down to 304.77 or potentially 301.71 is anticipated, with the day's lowest projection at 300.23.

NVIDIA Corporation

NVIDIA NVDA is trading near the 450.04 level. Those bullish on the stock are targeting this as a stable base, with aspirations to reach 454.09. If momentum remains on their side, 454.09 could be secured, with a peak target of 458.20.

On the other hand, if 450.04 doesn't maintain its stability, a move down to 447.05 or potentially 442.76 is in view, with the day's lowest projection at 439.87.

Amazon.com, Inc.

Amazon AMZN is trading around 142.38. Optimistic traders are hoping this acts as a solid support, with a potential move towards 143.51, and an ultimate goal of 144.58.

Conversely, if 142.38 fails to act as a consistent support, a move down to 141.42 or even 140.52 is anticipated, with the day's lowest expected point at 139.37.

Final Word: Today's trading dynamics will be influenced by data releases, with a particular emphasis on contract adjustments and traders gearing up for tomorrow's CPI announcement. Approach the market with caution and strategy. Good 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.

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