Benzinga - by RIPS, Benzinga Contributor.
Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, META, GOOGL, 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 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 (ARCA: SPY) is hovering around our pivotal level of 442.61. For bullish traders, we're looking for a strong rally towards 443.42 today. If momentum continues, expect the price to rise to 443.90, which should then act as a significant support level. A strong buyer presence could push the target to 445.08. Breaking above 445.08 could lead to a high of 446.31 for the day.
Should 442.61 fail to act as support, we anticipate a downward move to 442.04 and then 441.62. If selling persists, the bears could challenge the 441.06 level. A breach here could send the price down to our support level at 440.34, with 439.66 as the next test point. The day's ultimate bearish target is 438.78.
Invesco QQQ Trust Series 1 The QQQ (NASDAQ: QQQ) is trading around our key level of 366.69. For a bullish scenario, we aim for an initial rise to 367.52. A strong buying surge could propel the price to 368.57, which would indicate bullish control. Further buying could push the price to 369.39, with a high target of 370.08 for the day.
If sellers dominate, expect a decline to 365.59 and then to our support at 364.65. If 364.65 can't hold, bears may drive the price down to 363.23, and potentially to 362.13 and 361.41. The bearish target for the day is 360.08.
Apple Inc. Apple (NASDAQ: AAPL) is trading below our key level of 180.60. For the bulls, reclaiming and holding 180.60 as support is crucial. With strong buying, the next target is 181.25, with a high for the day at 182.27.
On the bearish side, if the price falls below 179.36, we could see a drop to 178.61 and then 178.18. Persistent selling could drive the price down to 177.31, with a low target for the day at 176.29.
Microsoft Corp. Microsoft (NASDAQ: MSFT) is trading above our key level of 321.51. For bullish action, holding 321.51 as support is essential, with a rally target of 323.17. Sustained bullish momentum could push the price to 324.81, with a high target of 326.05.
If 321.51 fails as support, expect the bears to aim for 320.05. A breakdown here could lead to a bearish target of 318.48 for the day.
Meta Platforms Inc Meta (NASDAQ: META) is trading around our key level of 288.87. For bullish action, holding this level as support is crucial, aiming for 291.19. If that level holds, the next target is 293.91, with a high for the day at 295.97.
If 288.87 can't hold, expect a bearish move to 286.94, and potentially to 285.10 and 284.18. Continued selling could lead to 283.08, with an aggressive bear target at 279.15.
Alphabet Inc Class A Alphabet (NASDAQ: GOOGL) is trading around our key level of 131.76. For bullish action, we're aiming for 132.22. If that holds, the next target is 132.84, with a high for the day at 133.78.
If 131.76 fails to hold, expect a bearish move to 131.28. A breakdown could lead to 130.41, with a bearish target for the day at 129.52.
NVIDIA Corporation For NVIDIA (NASDAQ: NVDA), the key level for bulls is 464.95. If buyers dominate, the first target is 470.17, followed by 473.81. Strong buying could push the price to a high of 478.67 for the day.
If 464.95 fails to hold, expect a bearish move to 458.20. A breakdown could lead to 461.49 and then 458.20, with a bearish target for the day at 454.09.
Final Word: Today features several key data releases that could introduce volatility. Keep an eye on trading volume and key levels. Trade wisely and best of 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.
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.
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