Market Clubhouse Morning Memo - September 20th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, And META)

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

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

The market today will witness significant volatility due to the FOMC rate decision and Jerome Powell's subsequent press briefing. SPY SPY is trading close to our pivotal point of 443.90. Bulls would hope to see momentum above this. A definite bullish signal would push towards 445.08. With further strength, we anticipate reaching 446.31 and 447.94. A robust buying drive might elevate the price towards 448.64. The ultimate bullish target for today is 449.42.

If 443.90 doesn't stand firm as support, we expect the bears to pull down to 443.42. Persistent selling might lead to a retest of the 442.61 level. If this doesn't stand its ground due to heavy selling, bears may target 442.04 and 441.62. Immense selling could bring us to 441.06 and 440.34. Breaking 440.34 could lead bears towards 439.66. The lowest bearish target today for SPY is 438.78.

Invesco QQQ Trust Series 1

Currently, QQQ QQQ is hovering around 370.91. For an optimistic outlook, the bulls would seek momentum beyond this mark. With strong buying, bulls would target 371.96. For today, dominance by bulls requires strength above 371.96. An assertive buying trend could lead to levels of 372.91 and 373.82. Breaking 373.82 with substantial buying could propel towards 375.18 and 375.98. The top bullish aim for the day is 376.78.

However, if bears make a mark today, they'll challenge the 370.08 support. If this level wavers, bears might assert dominance and drive down to 368.57. Persistent bearish pressure could test supports at 367.52 and 366.69. If 366.69 gives way, we might see a dive to 365.59. Intense selling could lead to a test at 364.65, and in an extreme downturn, we might reach 363.23.

Apple Inc.

Apple's AAPL current stance is around 178.61. Bullish sentiment aims to uphold this as support and push towards 179.36. If bulls dictate the day, we could see levels like 180.60 and subsequently 181.25. Today's bullish apex for Apple is 182.27.

On the flip side, if 178.61 falters, a dip to 178.18 might ensue. A bearish trend could drive the levels down to 177.31, then 176.84 and 176.29. Deep selling could bring the market to 175.81 and 175.09, with the lowest bearish target at 174.05.

Microsoft Corp.

Microsoft's MSFT position is around 328.52. Bullish hopes are pinned on a surge towards 331.24, eventually aiming for 333.46. Sustained bullish activity could steer the market towards 335.96 and then 337.80. The day's optimistic peak for Microsoft stands at 339.02.

If 328.52 wobbles as support, bears might aim for 326.05. Intense selling might drag it further down to 324.81 and then 323.17. In a pronounced downtrend, a dip to 321.51 is likely, culminating in a potential low of 320.05.

Meta Platforms Inc

At present, Meta META trades around 304.77. Bulls would like to see it remain as support, targeting highs of 308.16 and 309.51. Strong buying could drive prices up to 311.42, with the day's peak potentially at 314.41.

Contrarily, if 304.77 doesn't hold up, a decline to 301.71 and 300.23 might be on the horizon. Deep bearish sentiment could drag the market to 297.33 and 295.97, with the day's floor possibly at 293.91.

Final Word: The market today is poised to process limited data. The focus remains on the big players as they position themselves before tomorrow's FOMC rate decision. Ensure you tread cautiously and best of luck!

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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