How To Trade Nvidia Today?

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 587.31. For buyers to remain in control, we want to see a push above 589.71. If this level is established as support, momentum could drive the price toward 592.00. Holding above 592.00 would set the stage for an attempt at 593.73. If buying pressure remains strong, the high bull target for the day is 595.14.

If 587.31 fails to hold as a support level, sellers will aim to challenge 585.75. A breakdown below this level could open the door to 584.68. If selling intensifies, we're watching 583.18 as a key area of interest. Should the market see a sharp decline, the low bear target for the session is 581.97.

Invesco QQQ Trust Series 1 (QQQ)

The QQQ is currently trading near 501.07, which serves as a key pivot point. Bulls need to maintain strength above 502.65 to push toward 504.44. A successful defense of this level could lead to further upside toward 506.68. Should buying momentum remain strong, we anticipate a test of 508.22. If bullish sentiment prevails, the high bull target for the day sits at 509.87.

If the price struggles to hold above 501.07, bears will aim to drive the auction lower toward 499.44. A breakdown of this level could bring 498.37 into play. If sellers gain control, we're looking for a test at 496.94. A sustained sell-off would bring the price down to our low bear target of 495.35.

Apple Inc. (AAPL)

Apple is currently trading around 238.63. Bulls need to maintain strength above 239.43 to see an initial push to 240.23. If this level holds firm, further buying pressure could drive the price toward 241.23. A strong continuation move would target 242.21 as the high bull objective for the session.

If Apple fails to sustain 238.63 as support, we expect a drop toward 237.49. Continued weakness could lead to a test of 236.69. If sellers dominate the action, 235.74 will be a key downside level. A breach of this area could push the stock lower to the low bear target of 234.97.

Microsoft Corp. (MSFT)

Microsoft is currently trading near 392.49. Bulls need to hold above this level to attempt a move toward 393.47. If 393.47 is reclaimed as support, buyers could push the price to 394.46. Should buying momentum persist, our high bull target for the day is set at 395.68.

If 392.49 is lost as support, sellers will look to push the stock down to 390.98. A break below this level would bring 389.29 into focus. If the market remains weak, we expect further downside to 388.53. If aggressive selling takes over, the low bear target for the session is 387.60.

NVIDIA Corporation (NVDA)
NVIDIA is currently trading near our level of 120.27. If bulls can push the price to 121.97 and establish it as support, we could see a move toward 123.41. Sustained buying could fuel further upside, targeting 125.21. Should the rally continue, the high bull target for the session is 126.84.

If 120.27 fails to hold, sellers will attempt to push the price toward 119.44. A break below this level could bring 117.86 into play. If bearish momentum persists, we expect a test of 116.61. A decisive breakdown below this level could send the auction to our low bear target of 115.83.

Alphabet Inc Class A ( GOOGL)

Alphabet is currently hovering around 169.34. Bulls need to hold this level and push the price to 171.14. If buyers remain in control, we could see a move toward our high bull target of 172.28.

If 169.34 fails as support, sellers will likely drive the price down to 167.04. A break below this level could lead to a test at 165.41. If selling pressure intensifies, our low bear target for the day is 163.79.

Meta Platforms Inc (META)

Meta is trading around 663.33. Bulls need to maintain strength above this level to push toward 667.99. A strong buying response could drive the price up to 671.80. If buyers continue to dominate, the high bull target is 676.46.

If 663.33 is lost as support, we expect the auction to decline toward 658.86. Further selling could lead to a test of 655.54. If downside pressure remains heavy, the stock may drop to the low bear target of 650.56.

Tesla Inc. (TSLA)

Tesla is currently trading around 281.32. Bulls need to push the price above 283.95 to establish momentum. If this level holds, we could see a rally toward 286.34. Continued buying could bring 288.80 into play. If strength persists, our high bull target is 290.47.

If Tesla fails to maintain 281.32 as support, sellers will aim for 279.43. A breakdown of this level could bring 278.11 into focus. If selling accelerates, we're watching for a move toward our low bear target of 272.42.

Final Word:

Today's session is set to be highly volatile with key economic data releases. The PCE Price Index for January drops at 8:30 AM ET alongside Personal Income, Personal Spending, and Preliminary Wholesale Inventories. At 9:45 AM ET, the MNI Chicago PMI for February will be released, providing insight into Midwest business activity. At 11:00 AM ET, the Kansas City Fed Services Activity report will be out. Additionally, Chicago Fed President Austan Goolsbee, a voting member, is set to speak at 10:15 AM ET, which could impact market sentiment.

Given the combination of economic reports, month-end flows, and the expiration of weekly options, traders should brace for potential sharp moves in either direction. Liquidity conditions may shift rapidly, so risk management remains crucial. Expect elevated price swings and stay agile in response to market developments. Trade smart, and Happy 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.

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