Market Clubhouse Morning Memo - October 5th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, TSLA, NVDA, GOOGL, And META)

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

SPY SPY is presently trading around our mark of 424.52. Optimistically, an initial surge to 425.75 is what we're hoping for. Should the price hold strong above 425.75, we aim for a climb to our support level of 426.37. A steady hold at 426.37 during the day could propel the price further to surpass 427.08. The high target for bullish investors today for SPY stands at 427.71.

Should 424.52 fail to maintain support, a bearish descent to test 423.89 is anticipated. Sellers' presence could potentially drive the bears to a lower test at 422.70. A break below this level amid intense selling unveils a strong support at 421.98. A persistent selling force may trigger a further decline, testing 421.15. In a scenario of a sharp bearish session today, the low target is set at 420.69.

Invesco QQQ Trust Series 1

Currently, the Q's QQQ are trading near our pivotal point of 359.39. Bullish anticipation hinges on a hold above 360.08. Achieving support at this level, eyes are on 360.79 for strong support. A sustained buying spree may lift the level to 361.41. With robust buying momentum, bullish aspirations extend to testing 362.13 upwards, setting today's ambitious target at 363.23.

Conversely, failing to sustain above 359.39 today could see the bears seizing control, driving prices down to 358.60. A display of weakness could push further tests at 357.94. Persisting in this trajectory, 356.83 comes into the bearish radar. If this level crumbles, a descent to the day's bearish target of 355.93 is foreseen.

Apple Inc.

Apple AAPL trades around 173.24, with bullish eyes set on maintaining this as support. An upward rally to 174.05 is desired, potentially spiraling further to 175.09. Reclaiming bullish command today could trigger a surge to today's ambitious target of 175.81.

If support at 173.24 collapses, a lower test at 172.35 is on the horizon. A continued sell-off could drag prices to 171.66, with a break below ushering bears to a day's low target of 171.03.

Microsoft Corp.

Microsoft MSFT orbits around a support level of 318.48. Bullish hope rests on a steady hold above this, eyeing a reclaim of 320.05. A rally, fueled by a hold above this critical level, could potentially reach 321.51. Sustained buying vigor may drive the price to today's optimistic target of 323.17.

Unable to uphold 318.48 as support, bearish energies could probe 316.04. Breaking below, further bearish exploration at 314.98 is anticipated. Persistent downward pressure could lead to today’s bearish target of 313.61.

Tesla Inc.

Tesla's TSLA activity centers around 259.81. Bullish aspirations aim for an upward move to 262.68, solidifying it as support. A further climb could test 264.46, with an enduring buying trend potentially reaching today's high target of 266.83.

A failure to hold 259.81 could spark a test at 257.56, with continued selling exposing 254.28. A break below, under sellers' grip, could plummet to the day's bearish target of 252.38.

NVIDIA Corporation

NVIDIA NVDA trades around a key 442.76 level. Bulls aim for a rise to 444.38, seeking strong support. A further push could test 447.05, with sustained buying potentially hitting today's high target of 450.04.

Failing to uphold 442.76 could lead bears to probe 439.87. A decline beyond, amid selling, could reach 436.56, potentially testing 434.01 and 432.36. In a bear-dominated scene, a visit to the day’s low target of 429.17 is conceivable.

Alphabet Inc Class A

Alphabet GOOGL hovers around 134.96, with bullish sentiment aiming to hold this level. An upward trade to 136.29 is hopeful, possibly reaching the high target of 137.79.

Should 134.96 falter as support, bears might drive the price to 133.78, potentially testing 132.84. In a scenario of intensified selling, the day's bearish target lies at 132.22.

Meta Platforms Inc

Meta META trades above 304.77, with bullish energy focused on maintaining this level. A climb to 308.16 is anticipated, possibly surging to 309.51. With sustained bullish momentum, a rise to today's high target of 311.42 is foreseen.

A failure to secure 304.77 could lead to bearish action towards 301.71, possibly testing 300.23. A breach below could usher in a descent to today’s bearish target of 297.33.

Final Word: Today’s trading atmosphere is focused around the unemployment data reveal earlier, along with inputs from Federal Reserve speakers throughout the session. This week continues to be very volatile leading into the NFP report due out tomorrow on Friday. Keep your head on a swivel and trade with discipline. Good 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 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. Additionally, don't miss out on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: https://www.youtube.com/@MarketClubhouse.