Market Clubhouse Morning Memo - November 13th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, GOOGL, META, NVDA, And TSLA)

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

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 SPY is currently trading near 439.66. For upward movement, we aim for an initial reach of 440.34. Should the momentum sustain above this, we anticipate further elevation to 441.06. Holding strong at 434.13 during market hours could lead to an ascent towards 442.61, with the ultimate bullish target for today being 443.42.

If support at 439.66 proves unstable, we anticipate a bearish shift to test 438.78. In the presence of sellers, a further decline to 438.29 is likely. A breach of this level under intense selling pressure reveals a more substantial support at 437.92. Persistent selling could bring into play 437.02, with the extreme bearish objective for today being 436.51.

Invesco QQQ Trust Series 1

The Q's QQQ are hovering around the critical point of 376.78. Bulls are expected to defend this level, aiming for an upward trajectory to 377.58. Maintaining this course could lead to 378.93, with the peak bullish goal for the day set at 380.41.

If the struggle to maintain above 376.78 persists, bears might take the reins, pushing the auction lower to 375.98. Further weakness could lead to a test of 375.18. Persistent selling might challenge the support at 373.82, with the bearish end-of-day target being 372.91.

Apple Inc.

Apple AAPL is currently positioned around 185.86. Bulls are looking to sustain this level as a base, with ambitions to advance towards 186.35. Persistent bullish energy could drive the price to 186.99, with today's upper target for Apple set at 187.50.

Should 185.86 fail to hold up, we anticipate a bearish dip to 184.96. Continued selling pressure could push the price further down to 184.59. If selling intensifies, 184.09 becomes vulnerable, with the bearish end-of-day target for Apple at 183.38.

Microsoft Corp.

Microsoft MSFT is trading near 368.79. The bullish scenario involves maintaining above this mark, with an eye towards 370.10, establishing it as a strong support. A steadfast position here could lead to a rally targeting 375.00, with an ultimate bullish goal for the day at 380.00.

If support at 368.79 falters, a bearish exploration of 366.98 is likely. Breaking below this level may lead to a further dip to 365.35. Continued downward pressure could drive the price to today's lowest bear target of 363.81.

Alphabet Inc Class A

Alphabet GOOGL is currently near 131.58. Bulls are aiming to secure this as a support level, seeking an ascent to 132.84. A strong bullish run might see a push to the day's highest target of 133.78.

If the level of 131.58 is breached, a bearish movement to 130.41 is anticipated. Breaking this barrier could lead to a further test at 129.52. In case of intensified selling, the bearish end-of-day target is set at 128.91.

Meta Platforms Inc

Meta META is positioned around 325.51. Bulls are looking to maintain strength above this level, with a goal to climb to 329.83. Robust buying could propel the price further to 332.41, with the ultimate bullish aim for the day at 335.12.

In the event that 325.51 cannot hold, we expect bears to push the price down to 321.03. Increasing selling pressure might lead to a drop to 317.90, with the bearish end-of-day target at 315.70.

NVIDIA Corporation

NVIDIA NVDA is trading near 483.43. Bulls are aiming to propel the price to 489.04, establishing it as a firm support zone. An upward continuation could see a push to 495.73, with today's highest bullish target set at 499.62.

If the support at 483.43 doesn't hold, bears may push for a decline to 478.67. A breach here could lead to a drop to 473.81, with the ultimate bearish target for the day at 470.17.

Tesla Inc.

Tesla TSLA is trading around 215.15. The bullish outlook involves an upward push to 216.31, with further gains potentially reaching 217.78. Strong buying activity could lead to today's highest bullish target at 219.39.

If Tesla's support at 215.15 weakens, we expect a bearish test at 213.89, with continued selling possibly bringing 213.16 into focus. If this level succumbs, the bearish end-of-day target is set at 211.53.

Final Word: Today's trading is characterized by lighter data and limited Fed commentary. Your focus as a trader should be on order flow, especially given that this week is MOPEX week. The Treasury's 3 and 6 month bill auction may introduce some volatility later in the session. Stay alert and trade with caution. 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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