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)
SPY is currently trading near our reference point of 534.17. Bulls should initially aim for upward momentum toward 535.43. Sustained strength above 535.43 should provide buyers confidence to target the higher support at 536.31. Solid defense of 536.31 in regular market conditions could spur a bullish advance toward 538.30, with a top-end bullish goal for today’s session set at 540.07.
If the SPY struggles to hold 534.17, sellers will likely push to verify support at 532.56. Increased bearish aggression at this level might lead to deeper selling down to 531.57. Should selling pressure intensify beyond this, the market is expected to revisit the substantial support at 530.09. If bearish momentum accelerates sharply, anticipate SPY reaching today’s bearish objective of 528.66.
Invesco QQQ Trust Series 1 (QQQ)
The QQQ is currently active around our pivotal zone of 452.14. For bullish continuation, buyers must firmly maintain this level and swiftly establish a base above 454.10. A robust buying spree could escalate the price further toward our next key mark at 455.29. If today’s buyers assert dominance, anticipate testing higher ground around 456.23, with our upper bullish target for QQQ pegged at 458.83.
Should QQQ encounter resistance maintaining a foothold at 452.14 during today’s session, bearish momentum might swiftly build, dragging the price lower toward 450.98. A bearish breach at this level would signal deeper selling toward 449.36. Continued seller persistence could further push QQQ to evaluate the critical support at 447.73. If sellers decisively break through, today’s bearish bottom is targeted at 445.43.
Apple Inc. (AAPL)
Apple is currently positioned near our defined area of interest at 200.53. Bulls are tasked with securing this level firmly as support to stimulate upward momentum toward the next resistance at 202.29. Persistent bullish drive might propel the auction higher, targeting the subsequent level at 203.48. Should Apple’s bulls dominate today’s trading, the high bullish aim stands at 204.33.
If 200.53 fails to serve as firm support during today’s session, anticipate immediate bearish testing at the lower support of 198.79. Sustained selling pressure may further accelerate the decline toward 197.69. Persistent bearish sentiment could push the price lower to evaluate support at 196.61, and an aggressive selling spree may ultimately bring Apple down to today’s bearish floor target of 195.67.
Microsoft Corp. (MSFT)
Microsoft is actively auctioning near our benchmark level of 381.64. Bullish conviction will become evident if buyers maintain strength above 382.69, paving the way for continued upward traction toward 384.57, ideally holding this as firm intraday support. Successful defense of this critical support might encourage bulls to drive price action higher, initially targeting 386.09. With ongoing bullish momentum, today’s maximum upside target is set at 389.29.
Conversely, if Microsoft struggles to defend 381.64 during regular trading hours, bearish sellers may aggressively push downward, first testing support at 379.50. Further bearish pressure at this level could open doors toward the next downside support at 377.72. If bears maintain dominance, expect additional selling to probe lower support at 376.70, aiming ultimately at our bearish low target today at 375.93.
NVIDIA Corporation (NVDA)
NVIDIA is trading close to our significant pivot of 105.23. Bulls will be looking to assert themselves above this level, aiming initially at 106.30, with this mark becoming a stronghold of bullish activity. Renewed buyer confidence might drive the price to 107.51, while consistent bullish order flow could further advance NVIDIA toward 109.12. Today’s optimistic bull target resides at 112.54.
If 105.23 proves vulnerable during today’s session, bearish sellers are expected to promptly test the integrity of support at 103.96. A breakdown here under persistent selling may lead NVIDIA toward lower support at 102.55. Should bearish sentiment persist, expect a critical examination of strength at 101.02. With intensified downside pressure, the auction could potentially reach our bearish downside limit today at 99.87.
Alphabet Inc Class A (GOOGL)
Alphabet currently trades near our specified level of 152.94. Bulls will first need to firmly secure support at 153.93 to encourage upside momentum towards 154.95. Persistent buying strength could propel Alphabet even higher, aiming at our bullish session peak at 157.41.
Conversely, if 152.94 fails to maintain support through regular trading, sellers are anticipated to test lower at 151.24. A decisive breach of this support could signal an immediate bearish push down to 150.41. With increased selling activity, anticipate a deeper move toward our bearish daily objective at 149.58.
Meta Platforms Inc (META)
Meta is actively trading around our reference level of 512.85. Bulls must sustain strength decisively above 515.39, solidifying it as strong intraday support, thus enabling an advance to 520.27. Should bullish momentum remain vigorous, anticipate continuation toward 526.29. The bullish peak target for today’s session is set significantly higher at 534.33.
If 512.85 is lost as support during regular hours, bearish selling will target an immediate decline to 508.25. Should selling intensify, expect further downward pressure toward 504.54. If bearish momentum persists, it is likely Meta will test our lower boundary bearish target today at 500.83.
Tesla Inc. (TSLA)
Tesla is trading around our crucial pivot at 250.25. Bullish buyers initially need to confidently establish strength above 252.38. Persistent buying could then encourage a rally toward the next significant reference level at 254.28. A robust overall market rally could boost Tesla further, challenging resistance at 256.34. Strong buyer participation today could see Tesla reach our bullish high target at 259.81.
Conversely, if 250.25 cannot remain as robust support, anticipate bearish selling immediately targeting the lower level at 248.37. Should selling pressure remain pronounced, bears will likely probe deeper toward 246.16. Breaking below this support may trigger continued bearish momentum toward today’s bearish bottom target at 243.98.
Final Word:
Today’s trading session will be significantly shaped by the release of key economic indicators, starting with Advance Retail Sales for March alongside the New York Fed’s Services Business Activity report for April. Shortly thereafter, at 9:15 AM ET, Manufacturing Production data, Capacity Utilization rates, and Industrial Production figures for March will be announced. At 9:45 AM ET, traders should be attentive to the Bank of Canada’s Interest Rate Decision, with a follow-up press conference scheduled for 10:30 AM ET. Later at 1:00 PM ET, the Treasury will conduct a critical 20-Year Bond Auction, followed closely by Fed Chair Jerome Powell’s speech at 1:30 PM ET, where his comments could notably influence market dynamics.
Given ongoing geopolitical tensions and trade disputes, particularly around tariffs initiated under former President Trump, markets may experience increased volatility. Traders are advised to stay vigilant, carefully manage risk exposure, and remain responsive to these market-moving events. Wishing everyone a successful and safe trading day!
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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