Market Clubhouse Morning Memo - July 31st, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, And NVDA)

Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, 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

In Monday's premarket session, SPY SPY is inching towards the 457.86 level. If the bulls manage to surpass this level, we're looking for them to claim 458.54 and maintain the auction above this mark for the day. If this level holds firm, the day's bullish target is 460.28.

Conversely, if 457.86 proves challenging to hold, we anticipate the bears testing our lower 456.88 level. If sellers break this level, the bearish targets are 455.90 and 455.14.

Invesco QQQ Trust Series 1

The Q's QQQ are heading towards the 384.36 key level in Monday's premarket trading. If this mark can be retained with strength, the bulls' first target is 385.55, followed by an ultimate bullish aim at 386.69.

Should 384.36 face difficulty holding firm, we expect bears to lower the auction to 382.93. If that mark breaks down on selling, and 381.89 fails to hold, the bears are likely to aim for 380.41 on the downside.

Apple Inc.

Apple's AAPL current premarket rally is targeting our 196.61 key level. If the bulls defend this level during today's session, the ultimate bullish goal is 198.22.

However, if 196.61 is rejected and experiences selling off, we foresee the bears testing 195.67, with their lowest target at 195.25.

Microsoft Corp.

Microsoft MSFT is auctioning above our significant 337.80 level in Monday's premarket action. If this level remains solid, the bullish aims are 339.02 and 340.36.

If the 337.80 level cannot be held strongly, we anticipate the bears taking control and bringing the auction down to 335.96.

NVIDIA Corporation

NVIDIA NVDA is advancing towards the upside level of 470.17. If today's trading maintains control above this level, the bulls' target is 473.81.

Should aggressive selling occur, the bears may aim for 464.95, with further declines potentially bringing 461.49 into view.

Final Word: The trading session for today appears light on data. Alert traders will want to monitor the options chains for major companies that are reporting earnings this week. As always, maintaining focus and disciplined trading will be key. Best of luck today!

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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