Market Clubhouse Morning Memo - October 25th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, GOOGL, META, AMZN, And TSLA)

Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, GOOGL, META, AMZN, 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 currently trading around our marked level of 422.70. For a bullish scenario, an initial push to 423.89 is desired. Should the price maintain strength above this level, an aim for buyers to elevate the price to our designated support level of 424.52 is expected. If this level remains solid during standard trading hours, an ascent above 425.75 is anticipated. The high bull target for SPY today is set at 426.37.

Should 422.70 fail to hold as support, a bearish approach is to challenge the robustness of 421.98. If selling pressure is observed, a further downward test at 421.15 and 420.69 is expected. In case of intensified selling breaking this level, a strong support is identified lower at 420.05. In the event of a pronounced sell-off today, our pessimistic bear target for the day is pegged at 419.04.

Invesco QQQ Trust Series 1

Currently, the Q’s QQQ are trading around our significant level of 357.94. Bullish sentiments would prefer buyers to assert above 357.94. If this level proves supportive without faltering, establishing 358.60 as a strong support is the next objective. Sustained buying vigor could bring 359.39 into play. With powerful buying momentum, an attempt to test 360.08 on the upside is desired. The high bull target for the Q's today is set at 360.79.

If the trading struggles to sustain above 357.94 during today’s standard trading hours, a bearish outlook foresees a decisive sell-down to 356.83. On exhibiting frailty, a further test lower at 355.93 and 355.32 by the bears is anticipated. Should this level fail to hold firm, a descent to our bearish target of 354.24 for the day is expected.

Apple Inc.

Apple AAPL is trading around our marked level of 173.24. For a bullish narrative, it's desired that 173.24 remains as support. A rally to 174.05 is the next aim, with continued bullish energy potentially propelling the price to 174.59. Should bulls steer Apple today, a climb to our optimistic target of 175.09 is anticipated.

Conversely, if 173.24 falters as support during standard hours, a downward test at 172.35 is expected. If selling continues, a bearish pull to 171.66 is foreseen. Should this level crumble, a further bearish descent to our pessimistic target for the day at 171.03 is expected.

Microsoft Corp.

Post strong earnings and positive guidance, Microsoft MSFT is trading around 341.41. For bullish aspirations, maintaining strength above 341.41 and rallying to 343.68, with support established during standard hours, is desirable. Such a hold could fuel a rally to 345.90. Continued buying momentum might propel the price to our optimistic target for the day at 347.85.

If 341.41 fails to hold as support, a bearish scenario sees a probe to 340.36. If this level breaks, a further probe lower at 339.02 and 337.80 is anticipated. With continued selling pressure, a push to our pessimistic target for the day at 335.96 is foreseen.

Alphabet Inc Class A

Despite solid earnings, Alphabet's GOOGL guidance disappointed investors. It’s trading around 130.41. Bulls aim for 130.41 to hold as support, with a rise to 131.58. Sustained bullish energy could target our optimistic level of 132.84.

If 130.41 fails as support, a bearish stance sees a sell-down to 129.52. Should this level break, a further bearish probe to 128.91 is expected. With intensified selling, a descent to our pessimistic target for the day at 128.34 is anticipated.

Meta Platforms Inc

With earnings due post-bell, Meta META trades around 309.51. Bulls aim for strength above this level with a rally to 311.42. Strong buying could further elevate the price to 314.41, with a target of 315.70 in extended bullish conditions.

Conversely, if 309.51 falters as support, bears might push the price to 308.16. Continued selling could bring 304.77 into play, and a breakdown here might drive the price to our pessimistic target for the day at 301.71.

Amazon.com, Inc.

Amazon AMZN trades around 126.46, with bulls aiming for 127.76 to hold as support and a rally to 128.35. Sustained buying could target our optimistic level of 129.23.

If 126.46 crumbles as support, a bearish outlook sees a sell-down to 124.96. A breakdown here could further push the price to our pessimistic target for the day at 123.77.

Tesla Inc.

Currently, Tesla's TSLA price is hovering around a crucial point of 217.78. On the upward trend, we're eyeing the bullish traders to propel the price to 219.39 and further to 220.52. Sustained purchasing momentum could fuel a robust rally towards our pivotal point of 222.19. Should a large volume of buyers emerge today, it's possible to witness the price reaching the high bull target for Tesla at 223.86.

Should 217.78 fail to sustain as a robust support level in today’s trading, we anticipate a downward test at 215.15, with continued selling potentially bringing 213.16 into the scene. If the price breaches the 213.16 mark with sellers dominating, a price descent to our low bear target for Tesla at 211.53 on the day is expected.

Final Word: The focus of today's session will largely be on the market's reaction to the earnings reports from Microsoft and Alphabet. It's vital to trade with discipline and stay vigilant throughout the session. 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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