Market Clubhouse Morning Memo - December 27th, 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

SPY SPY is currently trading around our level of 475.02. Bulls are aiming for an initial rise to 476.10. If the market sustains above 476.10, we anticipate buyers driving the price up to our support level of 477.25. Should 477.25 remain stable during regular trading, we anticipate a rise to 478.16, with our ultimate bull target for SPY being 478.93.

Should 475.02 fail as a support, bears might push the price down to 474.04. Witnessing active sellers, the next target would be 473.40. A breakdown under intense selling pressure might lead to a strong support at 472.68, with our bear target for the day at 471.40.

Invesco QQQ Trust Series 1

QQQ QQQ is trading around our vital level of 410.90. Bulls are encouraged by sustained buying above 410.90, aiming for 411.80 as a firm support. If buying continues, we foresee a movement towards 412.16 and potentially 412.59. Our top bullish target for QQQ today is 413.30.

Should 410.90 not sustain during the session, we anticipate bears driving the price down to 410.34, then possibly to 409.89. Persistent selling might push the price to 409.44 and, if not held, to our bearish target for the day at 408.80.

Apple Inc.

Apple AAPL is trading around our level of 192.76. Bulls are looking to maintain 192.76 as support and push higher to 193.18 and then 193.95. Our ultimate bullish target for Apple today is 194.40.

If 192.76 does not hold as support, we expect a bearish test to 192.27, then potentially 191.57. Further selling might lead to 190.52, and if this level breaks, we aim for a bearish target of 189.44.

Microsoft Corp.

Microsoft MSFT is trading around 375.11. Bulls aim to keep it above 375.11 and push for 375.93 as a supportive level. If sustained, the next target is 376.70, with a bullish day target of 377.72.

If 375.11 fails as support, we look for bears to target 373.48, then 372.03. With continued bearish momentum, we might see 370.10 and, ultimately, a bearish target of 368.79.

Alphabet Inc Class A

Alphabet GOOGL is trading around 141.71. Bulls are aiming for a rise to 142.53, with an ultimate high target of 143.17.

Should 141.71 fail as support, we expect bears to push down to 141.12, then 140.29, with a bearish end-of-day target of 139.46.

Meta Platforms Inc

Meta META is trading around 354.93. Bulls aim to sustain above this level and push higher to 356.35 and then 358.21, with a high target of 360.20.

If 354.93 is not maintained, bears might target 353.60, then 351.97. If selling continues, we aim for a bearish end-of-day target of 350.18.

Tesla Inc.

Tesla TSLA is trading around 257.56. Bulls look to push higher to 259.81 and then 262.68, with an aggressive high target of 266.83.

If 257.56 doesn't hold, bears may push the price to 256.34, then 254.28, and ultimately a bearish target of 252.38.

NVIDIA Corporation

NVIDIA NVDA is trading around 492.33. Bulls aim for 495.79 as a support before pushing to 499.62, with a high target of 501.93.

Should 492.33 fail, bears might target 489.04, then 485.93, with a weak auction possibly bringing the price to 483.43 and a bearish day target of 481.27.

Final Word: Today's session has minimal data releases. Watch for market responses to the Richmond and Dallas Fed data post NY open, as well as the Treasury's auctions later in the afternoon. Monitor trading volumes as low activity may lead to unpredictable market movements. 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.