Market Clubhouse Morning Memo - February 13th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA)

Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, 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, 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 The SPY is currently trading around the level of 498.93. Bulls are looking for an upward push towards 500.17 initially. A sustained move above this level could see further upward momentum towards the support level of 501.74. Holding above 501.74 during regular trading hours could signal a push towards 502.85, setting the stage for a potential move to the day's high target of 503.95 for SPY bulls.

On the flip side, if SPY fails to maintain support at 498.93, bears might step in to test the 497.55 level. A presence of sellers could drive the price lower towards 496.93. Breaking below this level with significant selling pressure might bring into play a strong support level at 495.96. In the event of a pronounced sell-off, the day's bearish target is set at 494.93.

Invesco QQQ Trust Series 1 QQQ The QQQ ETF is hovering around the pivotal level of 432.84. Bullish investors aim to secure positions above 433.64, eyeing the next level of support at 434.76 if the earlier level holds. A continued influx of buyers could escalate the price towards 436.58, with an ultimate bullish target for the day at 438.89, should the momentum persist.

Conversely, should the QQQ struggle to stay above 432.84, the bears might gain control, pushing the price down to 431.18. Further weakness could lead to a test of 430.16, with a potential breakdown targeting 429.40. Failure to maintain this level could see the bears aiming for the day's low target of 428.50.

Apple Inc. AAPL Apple's stock is trading around the 185.86 mark. Bulls are eyeing this level to act as a base for a rally towards 186.99, with continued bullish energy potentially driving the price up to 187.50. If the momentum remains in favor of the bulls, we might see a push towards the day's bullish climax at 189.44.

If Apple's stock fails to find support at 185.86, bears might look to lower the price to 184.96. Persistent selling could see a further drop to 184.09, with the potential for a slide down to 183.38. If the bears continue to dominate, the day's lowest bear target is set at 182.27.

Microsoft Corp. MSFT Microsoft's shares are currently positioned around 410.64. The bullish scenario involves the stock holding above this level, rallying towards 413.14, and establishing it as a firm level of support. Should this occur, the next target would be 414.56, with an optimistic end-of-day goal of 417.25 for bulls.

On the contrary, if Microsoft cannot sustain support at 410.64, the price may be driven down to 409.69 by bears. A breach of this level could lead to further declines towards 407.11 and potentially to 406.01. The bearish target for the day is set at 404.92 if the downward trend continues.

NVIDIA Corporation NVDA NVIDIA is currently navigating around the critical level of 714.24. Bulls are aiming to propel the stock towards 717.55, with hopes of solidifying this as a support zone. An upward trajectory could then target 721.58, with the day's bullish ambition reaching as high as 726.35.

Conversely, if NVIDIA cannot maintain 714.24 as a support, the price might be pushed down to 711.29 by bears. A further decline could lead to a test of 707.35, with a more substantial sell-off potentially targeting 702.04. In a bear-dominated session, the target could fall to 694.62.

Alphabet Inc Class A GOOGL Alphabet's stock is trading around 145.94. Bulls are looking to maintain this as a support base to enable a move higher to 146.89, with sustained buying potentially pushing the price to the day's bullish peak of 147.68.

Should Alphabet's shares not hold at 145.94, a bearish outlook would see the price dropping to 144.72. Further bearish pressure could lead to a test of 143.77, with a significant downturn possibly bringing the price down to the day's bearish floor of 142.53.

Meta Platforms Inc META Meta Platforms is trading around the level of 465.81. Bulls are hopeful that this level will act as a strong foundation for an ascent to 470.28. With continued buyer interest, the price could climb to 472.19, aiming for a bullish pinnacle of 477.50 by day's end.

If Meta cannot uphold support at 465.81, a downward trajectory could see the price moving to 464.57. Intensified selling could drag the price further down to 462.20, with a breach of this level potentially leading to a bearish target of 458.59 for the day.

Tesla Inc. TSLA Tesla is presently trading around the key level of 186.10. Bulls are looking to drive the price upwards to 189.22, with a sustained buying wave potentially leading to a test of 191.52. A bullish market sentiment today could see Tesla reaching a high target of 195.91.

If Tesla fails to maintain support at 186.10, bears might push the price towards 184.10. A continuation of the downward trend could see the price falling to 182.53, with a significant sell-off potentially setting a bearish target at 179.79 for the day.

Final Word: The trading session today will largely revolve around the release of CPI data in the premarket at 8:30AM ET. This data is expected to significantly influence the positioning of large funds for the rest of the week. Toward the week's end, attention will shift to the PPI release on Friday. Please trade with caution today and respect your trade plan. 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.

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 gain early access to the Morning Memo, just like this one, every single day—hours before it's published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.

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. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: https://www.youtube.com/@MarketClubhouse.

This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.