Market Clubhouse Morning Memo - July 11th, 2023 (Trade Strategy For SPY, QQQ, AAPL, META, MSFT, TSLA, And HOOD)

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

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

Market participants are currently processing the latest speeches from Fed officials and setting their positions ahead of the CPI data release tomorrow. Currently, SPY SPY is battling to maintain above our significant level of 440.34. If the market can robustly stay above this threshold, we anticipate a rise to 441.06. On an exceedingly bullish day, our target levels are 442.04 and 442.61.

Conversely, if the market struggles to stay above 440.34 and this level starts to resist, we need to reassess the market sentiment at our key level of 439.66. Should this level break down, we foresee the bears potentially pushing the market down to 438.78, with our ultimate bearish target being 437.92.

Invesco QQQ Trust Series 1

In Tuesday's pre-market trading, QQQ QQQ is fluctuating within our range of 366.69 and 367.52. If the bulls dominate today's session, we anticipate a challenge to 368.57 on the upside. Our most bullish targets are 369.39 and 370.08.

But, if the session leans bearish and 366.69 fails to act as a support, we foresee a test of 365.59 as a potential lower support level. A substantial market sell-off today might prompt the bears to test 364.65.

Apple Inc.

At present, Apple AAPL is within our specified range of 189.16 and 189.52. Bullish expectations focus on a breakout above 189.52, aiming to test 190.33. If the 190.33 level holds firm, our ultimate bullish target is 191.25.

Should the market show signs of weakness below 189.16, we anticipate bears attempting to test 188.05 as a support level on the downside. If this level breaks, we foresee the bears targeting 187.50 with our most bearish projection being 186.99.

Meta Platforms Inc.

After adhering to our level predictions perfectly yesterday, Meta META currently hovers just above our crucial level of 293.91. If the bulls maintain control, they're likely to challenge 297.33 on the upside. Should this level hold strong, our bullish target is 300.23.

If 293.91 shows signs of failing during Tuesday's session, we will monitor the strength at 291.18, with increased selling possibly leading to a further drop to 288.87. Our most bearish target today stands at 286.94.

Microsoft Corp.

After a brief sell-off in Monday's early session, Microsoft MSFT has resumed its upward trend. It's currently positioned between our critical levels of 331.24 and 333.46 in Tuesday's pre-market session. If Microsoft shows convincing strength above 333.46, we'll be observing for a bull-run to 335.96.

Conversely, should 331.24 break under substantial selling, we expect the market to settle at our lower target of 328.52.

Tesla Inc.

Currently, Tesla TSLA remains above our significant level of 269.48. If this level successfully acts as support, we anticipate bulls pushing for 272.42. Should today's activity be strongly bullish, we're setting our sights on 275.07.

If 269.48 fails to hold, we expect the market to test 268.01. If this level is breached, it would lead to a potential probe at 266.83. A more significant Tesla sell-off today could drive the price down to 264.46.

Robinhood Markets Inc. 

Robinhood HOOD has been attracting bids since Monday's trading session. It is currently struggling to exceed our key level of 11.67. If this level is confidently overtaken, we anticipate a bullish push towards 12.10.

If 11.67 proves to be a significant barrier, we expect bears to pull the price back down towards 11.20. In the case of heavy selling, we may see bears testing 11.00 as a support level.

Final Word: Today's trading session lacks substantial data and Fed speeches. Therefore, most trading activities will likely be centered around positioning for the CPI data release tomorrow morning at 8:30AM. Today's market may be characterized by significant fluctuations. Be sure to keep an eye on trading volume and exercise discipline. 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.

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