Benzinga - by RIPS, Benzinga Contributor.
Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, TSLA, 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 SPY (ARCA: SPY) is currently trading below our pivotal 445.08 mark. For bullish momentum, a reclaim of 445.08 is essential. A strong bullish sign would be a surge above 446.31, establishing it as a support. A further upward move could target 447.94. Our optimistic target for SPY today is 449.42.
If 445.08 isn't firmly established as support, we anticipate a bearish move towards 443.90 and then 443.42. A significant sell-off that breaches 443.42 would likely target 442.61. In a strong bearish scenario, our target for SPY is 441.06.
Invesco QQQ Trust Series 1 The Q's (NASDAQ: QQQ) have seen a dip overnight and are hovering around our 371.96 mark. For bullish traders, a move towards 372.91 is the goal. With sustained buying, reclaiming 373.82 as support is crucial. For a bullish dominance, we'd like to see sustained trading above 373.82. A strong buying spree could push the price towards 375.18, with an ultimate bullish target of 375.98.
If selling persists, bears might push towards 370.91. If 370.91 doesn't hold, a further decline towards 370.08 is likely. A breach here could see a move to 369.39. Our bearish target for the day stands at 368.57.
Apple Inc. Apple (NASDAQ: AAPL) has seen a dip and is trading above our 177.31 mark. For bullish momentum, holding 177.31 as support and rallying towards 178.18 and then 178.61 is key. A strong bullish push could target 179.36 and potentially 180.60. Our optimistic bull target for Apple today is 181.25.
If 177.31 doesn't hold, a bearish move towards 176.84 is anticipated. Strong selling could push the price to 176.29, with a bearish target of 175.81.
Microsoft Corp. Microsoft (NASDAQ: MSFT) is trading above our 331.24 mark. Bullish traders would want to see this level hold and a rally towards 333.46. A sustained move could target 335.96, with an ultimate bullish target of 337.80.
If 331.24 is breached, a bearish move towards 328.52 is likely. A significant decline could target 326.05.
Tesla Inc. Tesla (NASDAQ: TSLA) hovers around our 246.16 mark. Bullish momentum would require holding this as support and targeting 248.37, with a high bull target of 250.25.
If 246.16 is breached, bears might target 243.98, with a low bear target of 242.47.
NVIDIA Corporation NVIDIA (NASDAQ: NVDA) trades around our 458.20 mark. For bulls, holding this level and targeting 461.49 is key. If 489.04 is reclaimed, a bullish buying spree could target 464.95.
If 458.20 doesn't hold, a bearish move towards 454.09 is anticipated, with a strong bearish target of 447.05.
Final Word: Today's trading will be influenced by comments from Fed speakers and digesting the morning data releases. Expect today to be this week's most volatile session. Stay alert, trade wisely, and keep your head on a swivel. Best of luck, traders!
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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