February 18th Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, 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, 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)

The SPY is currently trading around our key level of 611.39. For the bulls, we want to see a move higher initially to 612.68. If buyers can maintain control above this level, we expect the price to reach 613.46. Holding 613.46 as support during the regular session could lead to a push toward 614.75. If momentum remains strong, our high bull target for the day stands at 615.74.

Should 611.39 fail to act as support, sellers are likely to test 610.63. A break below this level could drive the auction lower to 609.33. If that level fails, we anticipate a test of 608.35. In the case of aggressive selling pressure, our low bear target for the session is 607.55.

Invesco QQQ Trust Series 1 (QQQ)

The Q’s are currently hovering around our key level of 540.60. Bulls need to hold this level and push higher for a retest of 542.31 as a firm support area. If buying persists, we expect a move up to 543.58. Should momentum continue, a further advance toward 545.14 is likely. If the strength holds throughout the session, our high bull target for the day is 547.65.

If 540.60 cannot hold as support, we expect the bears to take over and drive the price lower to 539.02. Increased selling pressure could lead to a test of 538.06. If this level gives way, we anticipate further weakness down to 536.95. A breakdown below this point would bring the Q’s down to our low bear target of 535.30.

Apple Inc. (AAPL)

Apple is currently positioned around 244.45. Bulls need to maintain this level to keep upward momentum intact, with a push toward 245.58 on the radar. If the buying pressure holds, we anticipate a continuation to 246.72. Should strength persist, the next key area to watch will be 248.12, marking our high bull target for the day.

If 244.45 is lost as support, we expect bears to target 243.57. Continued downside pressure could send the price lower to 242.83. If selling accelerates, a move toward 242.21 is likely. Should this level break, our low bear target for the session is 241.23.

Microsoft Corp. (MSFT)

Microsoft is currently trading near our level of 409.69. Bulls need to hold this level and drive the auction toward 410.64 for a continuation higher. If 410.64 is reclaimed and sustained as support, we expect further buying to take the price to 411.72. Should bullish momentum persist, Microsoft could reach our high bull target at 413.14.

If 409.69 is lost, we anticipate a drop to 408.46. A break lower would bring 407.11 into play. If selling pressure remains strong, we expect a test of 406.01. Should the bears maintain control, our low bear target for the day is 404.92.

NVIDIA Corporation (NVDA)
NVIDIA is currently auctioning near our level of 141.21. Bulls need to push higher and establish 142.35 as a solid support zone. If that level is held, we anticipate a move toward 144.21. Sustained bullish action could lead to a test of 145.61. If momentum remains in favor of the bulls, our high bull target for the session is 147.06.

If 141.21 does not hold as support, bears are likely to test 140.28. A further breakdown could lead to a retest of 139.42. Should sellers maintain pressure, a decline toward 138.55 is expected. On significant weakness, our low bear target for the day is 137.94.

Alphabet Inc Class A (GOOGL)

Alphabet is currently trading near our level of 186.02. Bulls need to hold this area and drive the price toward 186.68 for continued upside. If this level is reclaimed as support, a push toward 187.47 could be in play. Sustained bullish action may allow for further strength throughout the session.

If 186.02 cannot hold as support, sellers will likely push the price toward 184.52. A breakdown below this level could lead to a test of 183.40. If selling pressure intensifies, we anticipate further downside movement to our low bear target at 181.77.

Meta Platforms Inc (META)

Meta is currently auctioning around 736.12. Bulls need to maintain control above this level and push toward 738.07 for continued upside movement. If the buying pressure holds, we anticipate a move up to 740.71. Should bullish momentum persist, our high bull target for the day is 743.36.

If 736.12 fails to hold as support, the bears will likely push the price toward 733.41. Continued selling could bring a test of 729.50. If that level is breached, a move lower toward our low bear target at 727.04 is expected.

Tesla Inc. (TSLA)

Tesla is currently trading around 356.80. Bulls need to defend this level and push the price toward 363.84 for a breakout attempt. If buying pressure remains strong, the next key level is 370.22. If the market remains supportive, Tesla could see an advance toward 378.79. Under strong bullish conditions, our high bull target for the session is 384.07.

If 356.80 is lost, we anticipate a drop to 350.87. Should sellers maintain control, a move toward 346.64 is expected. If this level fails, further downside could lead to a test of our low bear target at 340.97.

Final Word: Today's session is light on major economic reports, but we do have a few key data points to monitor. At 8:30 AM ET, the market will get the latest CPI figures from Canada, which could influence risk sentiment. At 10 AM ET, the NAHB Housing Market Index for February will be released, providing insight into the housing sector’s strength. Additionally, the Treasury will conduct a 52-week bill auction at 1 PM. Lastly, we will hear from Fed non-voting member Mary Daly at 10:20 AM ET, as she participates in a discussion on banking. With a shorter trading week ahead, traders should stay focused on price action and manage risk accordingly. Good 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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