Market Clubhouse Morning Memo - September 18th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, META, And TSLA)

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

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 around our pivotal level of 443.90. Bulls will be eyeing a move above 443.90. Signs of upward momentum in today's auction might lead to a rally towards 445.08. With sustained momentum, we could see a rise to our top bullish target for the day at 446.31.

If 443.90 fails to act as a solid support, we anticipate bears might push down to 443.42. Should selling persist, the next level in sight is 442.61. This is anticipated to be a significant support zone. However, in the face of aggressive selling, if 442.61 doesn't stand firm, the bearish aim would be 442.04. Our lowest forecast for SPY today stands at 441.62.

Invesco QQQ Trust Series 1

QQQ The Q's hover around our critical level of 370.08. For bullish sentiment, a drive above 370.08 is desired. Sustained buying could propel the auction to 370.91 as a new supportive ground. A bullish dominance today would mean activity above 371.96. With strong buying interest, we project the auction might ascend to 372.91, and possibly even our top bullish target of the day at 373.82.

If sellers dominate and the auction can't maintain above 370.08, a downward move to 369.39 might ensue. Further selling might challenge the 368.57 support level. If this zone fails, a bearish descent to our day's lowest forecast of 367.52 could be in the cards.

Apple Inc.

AAPL Apple is orbiting around the 175.81 mark. Bulls will aim for this mark to act as a firm support, propelling the price towards 176.29. If buying persists, we might witness a surge to 176.84. A dominant bullish day for Apple could potentially reach our day's peak target of 177.31.

On the flip side, if 175.81 crumbles as a support during trading, a dip to 175.09 might be on the horizon. Extended bearish activity could drive the auction down to 174.05. Breaking this mark might set sights on our bearish daily forecast for Apple at 173.24.

Microsoft Corp.

MSFT Microsoft's price action revolves around 331.24. Bulls will target a leap to 333.46, solidifying it as a support. Optimistic projections see the auction ascending to 335.96. Solid footing above this could lead to an enthusiastic climb, aiming for our top bullish prediction of 337.80 for the day.

Conversely, if 331.24 gives way, bears might drive the price to 328.52. Intensified selling could challenge the 326.05 level, marking our most bearish forecast for Microsoft today.

NVIDIA Corporation

NVDA NVIDIA trades near the 432.36 mark. Bulls aspire to cement this as a support, spurring a move towards 434.01. Successfully establishing 434.01 could lead to an upward push towards 436.56. Our most optimistic outlook for NVIDIA today is a climb to 439.87.

Should 432.36 falter as a support, a bearish drift to 429.17 might be in sight. Deeper declines could target 426.17. Our most bearish scenario for NVIDIA today pegs the price at 424.83.

Meta Platforms Inc

META Meta trades close to 300.23. Bulls hope for this to stand strong, encouraging a rise to 301.71. An enthusiastic buying session could push the price to 304.77, even potentially reaching our bullish pinnacle for the day at 308.16.

However, if 300.23 doesn't stand its ground, bears may eye 297.33. An extended decline might then set the sights on 295.97, with our bearish floor for Meta today at 293.91.

Tesla Inc.

TSLA Tesla's current position is near 275.07. Bulls aim to use this as a launchpad, targeting 278.11. Strong buying could see prices rise to 281.32, with our most bullish expectation for the day at 283.95.

If 275.07 fails as a backbone, bears might challenge the 272.42 level. A breach here could send prices down to 269.48, with our most pessimistic forecast for Tesla today at 266.83.

Final Word: The session today is relatively quiet concerning data releases. The focus will predominantly be on the upcoming FOMC rate decision set for Wednesday. Monitor the options chain for insights on the positioning of major players. Good luck today, let's kick off the week on a strong note!

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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