Market Clubhouse Morning Memo - November 22nd, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, And TSLA)

Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, 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 around 453.54. Bulls are seeking an initial rise to 454.56. If the market remains robust above 454.56, the aim is to elevate the price to our support level at 455.14. Should 455.14 withstand market pressures during regular trading hours, an advance to 455.90 is expected, with the ultimate bullish target for the day set at 456.88.

Conversely, if 453.54 fails to act as a supportive base, the focus shifts to bearish movements testing 452.55. Presence of sellers might lead to a downward test at 451.61. Should this level break under selling pressure, a crucial support at 451.01 comes into play. Persistent selling could drive the price to 450.23. In an intense bear-dominated session, the day's lowest bear target is foreseen at 449.42.

Invesco QQQ Trust Series 1

The Q's QQQ are fluctuating around 389.46. For bullish momentum, holding above 390.09 is key, aiming to establish 391.39 as a firm support. Sustained buying might elevate the level to 392.77, setting the highest bullish target for the day at 393.96.

If the Q's struggle to maintain above 389.46 during regular trading, bears may gain control, pushing the index down to 388.80. Observing market weakness, a further test at 387.67 is likely. Persistent selling pressure could lead to probing 386.69, with 385.55 marked as the day's lowest bear target.

Apple Inc.

 Apple's AAPL trading activity is centered around 190.33. Bulls are aiming to sustain this as a base, looking for an upward move to 191.25. Continued bullish energy might push the target further to 191.76. In a bullish control scenario, the day's high target for Apple is projected at 192.21.

Should 190.33 fail to serve as a strong support, a lower test at 189.52 becomes imminent. With ongoing selling, bearish targets shift to 189.16 and then to 188.32. In a scenario where this level is breached, the bearish aim shifts to the day's lowest target for Apple at 188.05.

Microsoft Corp.

Microsoft MSFT is trading around 375.11. Bulls are focusing on maintaining stability above this level, with an objective to rally to 375.93. If this key support level holds during regular trading, there's potential for an ascent towards 376.70. Sustained buying could see the price hitting a high bull target for the day at 377.72.

If 375.11 cannot hold as a support, bearish trends are expected to test 373.48. A break down of this level might lead to a further descent to 372.85. In continued bearish conditions, the price could be pushed down to the day's lowest bear target for Microsoft at 371.31.

NVIDIA Corporation

Following its earnings report, NVIDIA NVDA is positioned around 503.76. Bulls are looking to push the price up to 506.40, aiming to solidify this as a key support level. The upside target is set at 509.29, with a bullish ambition to reach a high target of 512.31 for the day.

If 503.76 fails to hold as a strong support, bears might initiate a downward trend testing 501.80. If 501.80 breaks down amid selling, a drop to 499.62 is likely. Continued selling could lead to the day's lowest bear target for NVIDIA at 495.79.

Alphabet Inc Class A

Alphabet GOOGL, currently near 136.94, sees bulls aiming to maintain this level as support, targeting an upward move to 137.79. Continued bullish trends could push the stock to a high target of 138.39.

If support at 136.94 is not sustained, bears might aim to lower the price to 136.29. A break of this level could lead to a further test at 135.66. In heavy selling scenarios, the lowest bear target for the day is projected at 134.96.

Meta Platforms Inc

Meta META is navigating around 337.17. Bulls aim for the stock to remain strong above this level, moving towards 338.75. A strong buying wave could potentially elevate the price to 340.66. If bullish trends continue, the high bull target is set at 341.85.

If 337.17 fails to act as a supportive base, bears could lower the price to 335.12. Persistent bearish pressure might further reduce the price to 332.41. Should this level break, the bearish aim moves to the day's lowest target for Meta at 329.83.

Tesla Inc.

Tesla TSLA is trading around 242.47. Bulls are eyeing an upward push to 243.98, with a further bullish rally potentially leading to 246.16. In a broader bullish market, higher targets at 248.37 and 250.25 are envisaged.

If 242.47 does not hold as a strong support, a downward test at 239.92 is likely, with continued selling possibly bringing 238.50 into play. Should the level of 235.74 break under bearish pressure, a decline to the day's lowest bear target for Tesla at 233.49 is anticipated.

Final Word: Today's premarket session includes crucial data releases including unemployment data out one day early due to the Thanksgiving holiday. Today's session may be light on volume in anticipation of the holiday, so it's important to trade with discipline. Good luck and have a wonderful holiday!

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 gain early access to the Morning Memo, just like this one, every single day—hours before it's published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.

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. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: https://www.youtube.com/@MarketClubhouse.