Market Clubhouse Morning Memo - September 28th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, AMZN, And META)

Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, AMZN, 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 SPY is currently navigating around our mark of 426.37. For a bullish scenario, an initial ascent to 427.08 is desired. Sustained buying could further lead to 427.71. With strong price action above 427.71, we aim for buyers to elevate the price to our support tier of 428.62, with the day's high bull target being 429.28.

Should 426.37 fail to sustain as support, we anticipate bears testing 425.75. If heavy selling breaks this level down, a strong support awaits lower at 424.52. Continued sell-off could see bears exploring 423.89. In case of a severe sell-side session today, our low bear target rests at 422.70.

Invesco QQQ Trust Series 1

The Q’s QQQ are currently navigating around our pivotal level of 354.24. For the bulls, maintaining above 354.24 is crucial. If this level holds strong during regular trading, we anticipate 355.32 being tested first followed by 355.93 establishing as solid support. Persistent buying could potentially bring 356.83 into play, with a strong buying scenario taking the price to our high bull target for the day at 357.94.

If struggles to maintain above 354.24 are observed today, bear control is expected, driving the price lower to 353.50. If this tier fails to hold strong, we foresee a bearish descent to 352.55, with the day’s low bear target being 351.00.

Apple Inc.

Apple AAPL is currently navigating around our mark of 169.95. Bullish scenario desires 169.95 to hold as support, aiming for a rally to 171.03. Should bullish momentum persist, a rally to 171.66 is likely. With bulls in control, a push towards our high bull target for the day at 172.35 is expected.

If 169.95 fails to hold as support, a test lower at 169.02 is anticipated. Continued selling could drive bears to lower the price to 167.74. If this level breaks down, a bearish descent to our low bear target for the day at 166.70 is likely.

Microsoft Corp.

Microsoft MSFT had a gap-up overnight and is currently navigating just above our support level of 311.91. For the bulls, reclaiming 313.61 and holding it as support is crucial. Maintaining above this pivotal level could trigger a rally to 314.98. Strong buying today could further elevate the price to 316.04, with an ongoing bullish momentum potentially reaching our high bull target for the day at 318.48.

If 311.91 fails to hold as support, a bearish probe to 310.76 is anticipated. If this level breaks down, a further descent to 309.38 is likely, with a persistent downside pressure potentially driving the price to our low bear target for the day at 307.79.

NVIDIA Corporation

NVIDIA NVDA is currently navigating around our key level of 421.35. Bulls would want to see a push to 424.83, establishing it as a solid support. Upwards, bulls aim to drive the price to 426.17. Continued buying could lead to a rally to our high bull target for the day at 429.17.

If 421.35 fails to hold strong as support today, a bearish test to 419.36 is expected. If this level breaks down amidst selling, a price drop to our low bear target for the day at 413.76 is anticipated.

Amazon.com, Inc.

Amazon AMZN is currently navigating around our mark of 123.77. Bulls aim for 123.77 to hold as support, driving the price to 126.46. Continued bullish momentum could reach our high bull target of 127.76.

Should 123.77 fail to hold as support, bears might drive the price down to 122.53. If this level breaks down, a bearish probe to 121.32 is anticipated, with heavy selling potentially driving the price to our low bear target for the day at 120.42.

Meta Platforms Inc

META Meta is currently navigating above our level of 297.33. For the bulls, maintaining strength above 297.33 and holding it as support is crucial, aiming for a rise to 300.23. Strong buying could further elevate the price to 301.71, with continued bullish momentum potentially reaching our high bull target of 304.77.

If 297.33 fails to hold as support, bears might drive the price down to 295.97. Continued selling could see a further descent to 295.97. If this level breaks down, a bearish descent to our low bear target for the day at 293.91 is anticipated.

Final Word: Today’s session is packed with important data releases and Fed speakers. Trading with discipline is crucial as we approach the week’s end with quarter-end rebalancing on the horizon for tomorrow. Stay vigilant, keep your head on a swivel, and have a prosperous trading day. Good luck everyone!

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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