Market Clubhouse Morning Memo - December 26th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, GOOGL, META, TSLA, And NVDA)

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

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

The SPY SPY is currently trading around 474.04. For an upward trajectory, bulls are eyeing a move past 475.02, aiming next for 476.10 as a support level. If sustained above 476.10, the aim is to ascend further to 477.25, with an ultimate high target of 478.93 for the session.

Should 474.04 fail to act as a robust support, bears might press the price down towards 473.40. A break below could lead to further dips at 472.68, with a strong selling focus on reaching down to 471.40. In a significant bearish turn, the SPY might be driven down to a day's low of 470.63.

Invesco QQQ Trust Series 1

Currently, the Q's QQQ are navigating around 409.44. Bulls are seeking to maintain this level as a platform for further gains, eyeing 409.89 as a next step towards a robust support, and then progressing to 410.34. Should the momentum remain positive, a push towards 410.90 is likely, with an optimistic session high at 411.80.

Conversely, if 409.44 cannot sustain buying pressure, bears may take the initiative, pushing prices down to 408.80. Further weakness might see the price descending to 407.64 and 406.58, with a bearish session low possibly reaching 405.66.

Apple Inc.

Apple QQQ is presently trading around the 193.95 mark. Bulls are looking to secure this as a foundational support to propel the price towards 194.40, followed by 194.83, with an ambitious target for the day set at 195.25.

On the downside, if 193.95 gives way, bears are expected to lead a downward move to 193.18, aiming subsequently for 192.76 and 192.27, with a strong selling focus potentially driving the price down to a day's low of 191.57.

Microsoft Corp.

Microsoft MSFT is oscillating around a level of 375.11. Bulls are strategizing to consolidate above this mark, targeting an initial rally to 375.93 and then aiming for 376.70, with a strong buying surge possibly leading to a session high of 377.72.

If bears take control and 375.11 doesn't hold, we might see a downward push to 373.48, followed by further probes at 372.03 and 370.10, with a bearish end-of-day target potentially falling to 368.79.

Alphabet Inc Class A

Alphabet's GOOGL price action is centered around 141.71. Bulls are looking to build momentum from this level, aiming higher towards 142.53, with a further bullish outlook setting sights on a session high of 143.17.

Should 141.71 not maintain as a support, bears are likely to step in, driving the price down to 141.12, with further targets at 140.29, and in a substantial bearish push, aiming for a day's low of 139.46.

Meta Platforms Inc

Meta META is positioned around 353.60. Bulls are hopeful of sustaining above this level, pushing higher to 354.93 and then 356.35, with an aggressive buying scenario targeting a top of 358.21 for the day.

Conversely, if 353.60 fails to act as a springboard, bears may look to drive prices down to 351.97, then 350.18, intensifying their efforts to reach a low of 347.67.

Tesla Inc.

Tesla's TSLA trading is focused around 254.28. Bulls are aiming to induce a rally towards 256.34 and then 257.56, with a broader market bullishness potentially seeing a peak at 262.68.

If support at 254.28 is breached, bears might push for a sequence of lower targets starting at 252.38, then 250.25, and in a pronounced downtrend, striving for a session low at 248.37.

NVIDIA Corporation

NVIDIA NVDA is hovering around 489.04. For the bulls, the immediate target is 492.33, with aspirations to cement it as a new support before advancing to 495.79, and in a strong bullish turn, aiming for a day's high at 499.62.

Should 489.04 prove unsustainable, bears might look to decrease levels to 485.93, then to 483.43, and in a more aggressive sell-off, target the low of 478.67.

Final Word: As we embark on this shortened week, the final trading week of 2023, be mindful of early volatility possibly spurred by economic data releases and forthcoming U.S. Treasury auctions. Monitoring volume will be crucial for understanding the depth of market participation. If you do trade, stay adaptable to the environment and plan trades with an eye for sudden shifts. Keep your head on a swivel and practice 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.

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