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 presently trading near our critical marker of 589.71. For an optimistic scenario, bulls should aim to reclaim 592.00 quickly. Should buyers maintain control above this mark, it sets the stage for further advancement to 593.73. Successful stabilization at this level during regular market hours would likely trigger additional upward momentum, targeting 595.14. A bullish surge today could carry SPY toward our ultimate bullish goal at 596.57.
If bulls fail to defend 589.71 effectively, bearish traders might pressure the price down to the next support at 587.31. Continued downside action at this level may extend the drop further toward 585.75. If selling accelerates aggressively past this point, the market could explore lower support around 584.68. Under extremely bearish conditions, anticipate SPY testing our deep bearish target of 583.18.
Invesco QQQ Trust Series 1 (QQQ)
The QQQ is actively trading close to our pivotal area at 519.87. Bulls will need an assertive drive above 521.15 to establish a supportive base for a push upward to 522.57. A decisive hold here could fuel further bullish advances, targeting 523.91 next. Strong and sustained buying pressure would potentially bring into focus the 525.19 region, and in an exceptionally bullish scenario, QQQ could reach today’s high target of 527.03.
Conversely, if 519.87 fails as a stable support, sellers will likely seize control and drive prices lower toward 518.65. A break under this level could intensify bearish momentum, testing the 517.97 zone. Persistent selling pressure here might expose further downside to 516.58, and if bears dominate decisively, the price could reach today's bearish target at 515.00.
Apple Inc. (AAPL)
Apple is trading around the critical zone at 200.53. Bulls should ideally establish a foothold at 202.29 swiftly, creating a base for additional upward movement towards 203.48. Continued buying would set the stage for an ascent to 204.33. With sustained bullish enthusiasm, Apple could rise further to reach our ambitious bullish target for today at 205.54.
On the downside, if the 200.53 support fails to hold, bearish traders will likely challenge the lower level at 199.51. A sustained breakdown here would accelerate declines towards 198.79. Extended selling might push prices further down to 198.22, and under heavy bearish activity, Apple might test today's deeper bearish target at 197.69.
Microsoft Corp. (MSFT)
Microsoft currently trades near our key level of 459.18. For bullish momentum to solidify, buyers must secure price action decisively above this point, pushing upward to 460.78. If this level holds strongly during regular hours, it sets up a further advance toward 462.07. Robust and sustained bullish buying could lift Microsoft to test today’s bullish target at 463.27.
If bulls lose the 459.18 support, expect bearish pressure to push prices down to 457.25. Increased selling activity below this threshold could lead Microsoft lower to test the next significant support at 455.77. Continuous bearish pressure may deepen the descent to 453.02, and under severe bearish conditions, Microsoft might target the session's bearish low of 450.26.
NVIDIA Corporation (NVDA)
NVIDIA is hovering around our critical area of 139.42. Bulls need to quickly establish dominance above 140.28, converting it into firm support. With successful buying here, an upward thrust toward 141.21 becomes viable. Sustained bullish momentum might elevate the price to 142.35, and persistent strength could push NVIDIA to our highest bullish aim today at 144.21.
If the 139.42 support area collapses, bears will target a move downward toward 138.55. Should selling persist at this level, expect further downside toward 137.94. Continued weakness could expose NVIDIA to additional declines, probing 136.98. Heavy and sustained bearish pressure could ultimately guide prices toward our low bearish target of 135.64.
Alphabet Inc Class A (GOOGL)
Alphabet is currently trading near our crucial support level at 172.28. To maintain bullish sentiment, buyers need to rapidly reclaim and hold this level, aiming higher toward 174.01. Continued bullish activity could foster an ascent to our ultimate bullish target of the day at 175.12.
If sellers manage to break down the support at 172.28, bearish momentum would likely accelerate toward 171.14. Additional selling pressure here may further expose downside vulnerability, targeting 169.34 initially. A heavy bearish session could drive Alphabet down to test today’s lower bearish target of 167.04.
Meta Platforms Inc (META)
Meta is actively trading near our important level of 642.59. Bulls need to establish a robust foothold above 646.48 to ignite upward momentum toward 650.56. Strong buyer interest at this point could open doors for a higher ascent to 655.54. Persistent bullish activity might carry Meta to today's bullish apex at 658.86.
If bulls fail to maintain support at 642.59, expect a bearish shift, driving prices downward toward 635.49. Further selling pressure might see a deeper retreat toward 629.88. A substantial break below this zone could send prices spiraling down to our low bearish target for Meta at 622.01.
Tesla Inc. (TSLA)
Tesla trades close to our pivotal point at 356.80. For upward momentum to gain traction, bulls must aggressively push the price toward 363.84. Sustained buying activity above this could propel Tesla further toward 370.22. Strong market-wide bullishness might carry prices higher still to test 378.79. Exceptional bullish conditions today could elevate Tesla to our highest bullish target at 384.07.
Conversely, if 356.80 breaks as support, bearish momentum might swiftly drive the price down toward 350.87. Continued bearish presence could expose a further downside target of 346.64. Increased selling below this point would invite tests toward 340.97, and under intense bearish dominance, Tesla might revisit our deeper bearish target at 333.93.
Final Word:
Today is poised to be highly event-driven, starting with the critical Core PCE Price Index for April, releasing at 8:30 AM ET. This will be complemented by Personal Income, Personal Spending, Advance Goods Trade Balance, and Preliminary Wholesale Inventories data also at 8:30 AM ET. Later in the morning at 9:45 AM ET, we will receive the Chicago PMI report for May, followed by the Final University of Michigan Consumer Sentiment numbers and related Inflation Expectations at 10:00 AM ET. Additionally, commentary from Federal Reserve officials Bostic, Daly, and Goolsbee could further amplify market volatility.
Traders should be particularly vigilant today, anticipating heightened volatility stemming from the convergence of these influential economic reports and month-end rebalancing flows. Given the expected increase in market swings, precise execution, disciplined risk management, and cautious decision-making will be essential. Stay attentive, trade strategically, and have a successful session. Happy Friday and have a great weekend!
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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