Market Clubhouse Morning Memo - December 15th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, TSLA, NVDA, GOOGL, And META)

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

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 positioned around 471.40. Bulls are aiming for an initial move up to 472.68. If it stays strong above this level, the next target is 474.04. Successfully maintaining 474.04 could lead to an upward push to 475.02, with an ambitious high target for the day at 476.49.

On the bearish side, if SPY fails to hold 471.40 as support, the focus shifts to 470.63. Should sellers emerge, the next level to test is 469.17. A breakdown of this level could lead to stronger support at 468.16, potentially moving down to 466.80, with the most significant bear target for the day at 464.92.

Invesco QQQ Trust Series 1

The QQQ QQQ, currently near 404.76, in a bullish scenario, seeks to rise above this level. Maintaining 404.76 could lead to targeting 405.66 as a strong support, followed by 406.58. A strong market could further test 407.64, with the highest bull target at 408.80.

Conversely, if QQQ struggles below 404.76, a bearish trend may emerge, initially targeting 403.59. Weakness could lead to probing 402.31, and if selling pressure continues, further testing 400.95 and 399.67, with the lowest bear target at 398.57.

Apple Inc.

Apple AAPL, currently around 198.22, for bulls, aims to maintain this level as support. The goal is to rally to 198.79 and then to 199.51, with an ultimate high bull target set at 200.53.

In contrast, if Apple cannot sustain 198.22 as support, a bearish view might come into play. This would involve testing 197.69, followed by a potential decline to 196.94. Further selling could push the price down to 196.61, with the lowest bear target for the day at 195.67.

Microsoft Corp.

Microsoft MSFT, trading at about 368.79, has a bullish case where the focus is on holding above this level and rallying to 370.10. Successfully maintaining this level could lead to targeting 372.03, with the day's high bull target at 373.48.

Should Microsoft not sustain 368.79, the bearish scenario involves probing 366.98. Breaking down this level could lead to further decline to 365.35, with continued downward pressure potentially pushing the price to 363.81, and the lowest bear target at 362.81.

Tesla Inc.

Tesla TSLA, positioned around 252.38, in a bullish view, seeks to push the price up to 254.28. Sustained buying could lead to reaching 257.56, and in a broader market rally, possibly testing higher levels at 259.81, with a high bull target at 262.68.

Conversely, if Tesla fails to maintain 252.38, the bearish perspective involves a downward movement to 250.25. Continued selling might lead to 248.37, and if this level is breached, the next target is the day's low bear target at 239.92.

NVIDIA Corporation

NVIDIA NVDA, near 483.43, for bulls, aims to rise to 489.04 and establish it as a strong support area. Further advancement could target 492.33, with a high bull target for the day at 495.79.

If NVIDIA cannot hold 483.43, a bearish trend might unfold, starting with testing 478.67. A breakdown of this level could lead to a drop to 473.81, and if the market weakens, further testing at 470.17, with the lowest bear target at 467.34.

Alphabet Inc Class A

Alphabet GOOGL, currently at 131.58, in a bullish scenario, seeks to maintain this level and move up to 132.84. Continued bullish momentum might push towards a high target of 133.78.

If Alphabet can't sustain 131.58, a bearish trend may lead to a drop to 130.41. Further selling could lead to 129.52, and in a scenario of increased selling, the lowest bear target for the day is 128.91.

Meta Platforms Inc

Meta META, currently around 332.41, for bulls, focuses on remaining above this level and rising to 335.12. Strong buying could further elevate the price to 337.17, aiming for a high bull target at 338.75.

Conversely, if Meta fails to hold 332.41, the bearish trajectory involves a decline to 329.83. Persistent selling might lower the price to 328.13, with the day's most significant bear target at 325.51.

Final Word:  Today's session will be impacted by the PMI data release shortly after market open and the occurrence of triple witching. Triple witching refers to the simultaneous expiration of stock options, stock index futures, and stock index options, which can cause heightened market volatility. Trading with caution and discipline is recommended in light of the potential increased market fluctuations. Good luck and have a prosperous trading day this Friday!

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.

This article is from an external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.