Market Clubhouse Morning Memo - December 20th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, TSLA, NVDA, GOOGL, And META)

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

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

the SPY SPY is currently fluctuating around our level of 474.04. For upward momentum, we aim for an initial rise to 475.02. Should the market stay robust above this, we anticipate a climb to our support mark of 476.10. Stability at 476.10 during the day could lead to an ascent towards 477.25. The day's optimistic ceiling for SPY is set at 478.93.

Should support at 474.04 falter, the market might shift towards 473.40. Presence of sellers could drive the focus to 472.68. A breach here under intense selling pressure could reach a solid support at 471.40. In a strong downward market, our lower boundary for the day is 470.63.

Invesco QQQ Trust Series 1

The Q's QQQ are fluctuating near our pivotal 407.64 mark. For upward trends, maintaining above 407.64 is key. A stable base here could lead to 408.80 becoming a firm support. Further buying could bring 409.44 into significance. A robust market today might challenge 409.89. The day's optimistic target for the Q's is 410.34.

If the market falters below 407.64, a downward push to 406.58 might occur. Weakness could lead to a test of 405.66. If selling intensifies, 404.76 might be challenged. Failure to maintain here could see a descent to the day's lower target of 403.59.

Apple Inc.

Apple's AAPL current focus is around 196.01. Bulls seek to maintain this as a base. A rise to 196.61 is desired, potentially leading to 197.00. Dominance in today's market could propel Apple to a high of 197.69.

If 196.01 doesn't hold, a dip to 195.67 is likely. Further declines might target 195.25, and intense selling could challenge 194.40. A breakdown here might set the day's lower limit at 193.95.

Microsoft Corp.

Microsoft MSFT is around 372.03. Bulls hope for stability above this, targeting 373.48 as a support. Sustaining this could lead to an upward movement towards 375.11, with the day's bullish peak at 376.70.

If 372.03 weakens, a decline to 370.10 might ensue. A further drop could test 368.79. Persistent downward pressure might push towards 366.98, with the day's floor at 365.35.

Tesla Inc.

Tesla's TSLA key focus is 254.28. An upward move targets 257.56. Continued buying could challenge 259.81. A bullish market might test 262.68, aiming for a high of 264.46.

If 254.28 doesn't hold, we might see 252.38, with further selling testing 250.25. A break here could lead to a lower boundary of 248.37.

NVIDIA Corporation

NVIDIA NVDA is near 489.04. Bulls aim for a rise to 492.33 and then 495.79. A strong buying trend might reach a high of 499.62.

If 489.04 weakens, a test of 485.93 might follow. A breakdown could lead to 483.43, with a further decline possibly hitting a low of 481.27.

Alphabet Inc Class A

Alphabet GOOGL is around 136.29. Bulls aim to stabilize here and advance to 136.94. Sustained upward momentum might reach a high of 137.79.

If 136.29 doesn't hold, a move to 135.66 is possible. A further drop could challenge 134.96, with a steep sell-off targeting 133.78.

Meta Platforms Inc

Meta's META focus is 347.67. Bulls seek stability here, aiming for 350.18 and potentially 353.60. The day's bullish ceiling is 354.93.

If 347.67 weakens, a descent to 345.04 might occur, potentially leading to 342.89. A further decline could reach a low of 341.85.

Final Word: Today's trading session brings limited new data, featuring the weekly MBA mortgage applications report and the Conference Board's assessment of consumer confidence for December. We'll also hear from Fed's Goolsbee once more, though he's not expected to introduce any novel insights, given his previous addresses this week. Later in the day, the Treasury's 20-year bond auction could trigger some market fluctuations. Keep your head on a swivel, monitor trading volumes closely, and best of luck in today's market!

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.