Benzinga - by RIPS, Benzinga Contributor.
Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, TSLA, NVDA, 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 SPY (ARCA:SPY) is hovering near 433.27. Bulls aim for a rise to 433.75. Maintaining above 433.75 could lead to 434.13. Holding 434.13 during market hours might propel the price to 434.66, aiming for 435.06 as the top target.
If support at 433.27 fails, bears might challenge 432.91. Presence of sellers could lower the price to 432.28. A break below this on heavy selling targets 431.78, with 431.04 as the ultimate bearish goal for the day.
Invesco QQQ Trust Series 1 The Q's (NASDAQ: QQQ) are trading around 368.57. Bulls are eyeing a rise above 369.39, aiming to secure 370.08 as support. Sustained buying could reach 370.91, with 371.96 as today's bullish peak.
Failure to maintain 368.57 could see bears pushing the price down to 367.52. Weakness might lead to 366.69, and further down to 366.15. A break below this could see a descent to 365.59.
Apple Inc. Apple's (NASDAQ: AAPL) current price is near 182.27. Bulls hope to maintain this as support and aim for 182.96, then 183.38. A strong bullish day could push Apple to 184.09.
If Apple falls below 182.27, a downward move to 181.25 is likely. Increased selling could bring it to 180.60, and further down to 180.10. A significant bearish turn could lower it to 179.36.
Microsoft Corp. Microsoft (NASDAQ: MSFT) is around 359.90. Bulls aim to secure above 359.90, targeting 361.32, and then 362.81. Strong buying could reach a peak at 365.35.
If 359.90 doesn't hold, bears might target 358.28, then 356.05. Further selling pressure could push it down to 354.73.
NVIDIA Corporation NVIDIA (NASDAQ: NVDA) is near 467.34. Bulls aim for 470.17, then 473.81, with a strong day potentially reaching 478.67 and peaking at 483.43.
If 467.34 is breached, bears might target 464.95, then 461.49, with a significant bearish move possibly reaching 458.20.
Alphabet Inc Class A Alphabet (NASDAQ: GOOGL) is around 129.52. Bulls are targeting 130.41, then 131.58, with a potential rise to 132.84.
If support at 129.52 fails, a drop to 128.91, then 128.34, and potentially to 127.71 is possible.
Tesla Inc. Tesla (NASDAQ: TSLA) is trading near 206.09. Bulls aim for 208.48, then 209.51, potentially rising to 211.53 and peaking at 213.16.
If 206.09 isn't maintained, bears might target 204.03, then 202.91, and potentially drop to 200.91.
Meta Platforms Inc Meta (NASDAQ: META) is at 317.90. Bulls look to maintain this level, targeting 321.03, then 325.51, with an optimistic target of 329.83.
If 317.90 is not sustained, a drop to 315.70, then 314.41, and possibly down to 311.42 is expected.
Final Word: Today's market will reflect on Jerome Powell's recent remarks, with minimal impact expected from today's non-voting Fed speakers. Wishing everyone a successful Friday and a wonderful 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.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will get early access to the Morning Memo just like this one every single day, hours before it goes to publication. For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at https://marketclubhouse.club/7Days/ where you can trade live with him and tap into his wealth of knowledge and experience. Additionally, don't miss out on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: https://www.youtube.com/@MarketClubhouse.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.