Market Clubhouse Morning Memo - December 6th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, TSLA, META, GOOGL, And NVDA)

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

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 presently trading near 457.86. For a bullish perspective, traders are eyeing an initial push to 458.54. Should the market stay robust above this mark, the next objective for buyers is to elevate the price to 459.42, a key support level. If this level holds steady during regular trading hours, a further climb to 460.28 is anticipated, with the highest bullish target for the day being 462.20. This scenario hinges on sustained positive market sentiment and strong buyer engagement.

On the other hand, if the 457.86 mark fails to serve as a strong support, bearish tendencies may come into play. In such a scenario, the focus shifts to 456.88, a crucial lower level to test the market's resilience. If this level sees a seller's dominance, a further descent to 455.90 is likely. A significant breakdown at this point could lead to a downward spiral, reaching a more substantial support level at 454.56. If the selling pressure persists, the bears might drive the market even lower, targeting 453.54, with a final bearish goal for the day at 452.55.

Invesco QQQ Trust Series 1

For QQQ QQQ, currently positioned around 387.67, the bullish case entails pushing above 388.90. Maintaining this level is vital for a positive outlook, setting the stage for the next target at 389.46 to be established as a firm support. With continued bullish force, the level of 390.09 could come into play. A strong market showing today could even test a higher level at 391.39, with the uppermost bull target set at 392.77.

Conversely, if the market struggles to sustain above 387.67 during today's trading, it could signal a shift in control to the bears. This scenario might lead to a downward push to 386.69. If a weakness is evident, the next level to test would be 385.55. Persistent selling pressure could then lead to a probe of 384.36. If the bearish momentum continues and 382.93 fails to hold as a strong support, the market might see a further descent to the day's low bear target of 381.89.

Apple Inc.

Apple's AAPL stock, currently around 193.18, presents a bullish case where the target is to maintain 193.82 as a support level. If this is achieved, the next move would be to rally towards 194.29. Continued positive momentum might further propel the price to 195.25. If the bulls take complete control of Apple's trading today, the ultimate aim would be to reach the high bull target of the day at 195.67.

In the bearish scenario, if Apple's stock fails to hold the 193.18 level as support during regular trading, the focus shifts to testing a lower level at 192.60. If selling continues, bears might drive the price down to 191.76. Intensified selling pressure could then lead to 191.25 coming into play. A breakdown of this level would prompt the bears to target a further decline, aiming for the day's low bear target at 190.33.

Microsoft Corp.

Microsoft MSFT, trading near 372.85, has a bullish outlook that involves sustaining above 373.48, with an ambition to rally towards 375.11 and solidify it as a key level of support during regular trading hours. Should this level hold, the price action might rally further to 375.93. The continued buying momentum could potentially lead to reaching the high bull target for the day at 377.72.

On the bearish front, if Microsoft fails to maintain the 372.85 level as support, the market may see a shift towards 371.31. A breakdown of this level would lead bears to target a further descent to 370.10. In a scenario of continued downward pressure, the bears could likely push the price even lower, setting their sights on the day's low bear target at 368.79.

Tesla Inc.

Tesla TSLA, with its current level around 239.92, has a bullish scenario where the aim is to drive the price up to 242.49. With sustained buying activity, a further rally to a key level of 243.98 might be observed. In the event of a broader market bullish rally today, Tesla could test even higher levels, aiming for 246.16. Should there be a significant influx of buyers, the price might reach the high bull target for the day at 248.37.

If Tesla's support at 239.92 fails to hold in today's session, a bearish outlook comes into play, with a test lower at 238.50. Continued selling could bring the price further down to 235.74. If this level is breached under selling pressure, the expectation shifts to a drop in price to the day's low bear target of 233.49.

Meta Platforms Inc

For Meta META, currently at 317.90, the bulls are looking to keep the auction strong above this level, aiming for a rise to 321.03. A strong buy-side action could push the price even higher to 322.63. If bullish momentum persists, the day's target could be set at the high bull mark of 325.51.

Conversely, if Meta cannot maintain 317.90 as a strong level of support during regular trading, a bearish tendency might take over. This would involve selling the price down to 315.70. Should sell-side pressure continue, the next level to watch would be 314.41. In a scenario where this level also gives way, bears might aim to drive the price down to the day's low bear target of 311.42.

Alphabet Inc Class A

Alphabet GOOGL, positioned around 130.41, has a bullish outlook where maintaining 130.41 as support is crucial. If successful, the next aim would be to trade higher to 131.58. With continued positive market momentum, the bulls might set their sights on the high bull target of 132.84.

In a bearish scenario, if Alphabet fails to hold 130.41 as a strong level of support, the market's direction might turn downwards. This could lead to a test of the lower level at 129.52. If this level is breached, the initial bearish target would be 128.91. In the case of heavy selling, the day's low bear target for Alphabet could be set at 128.34.

NVIDIA Corporation

NVIDIA NVDA, with its current level at 470.17, has a bullish case where the goal is to push up to 473.81 and establish it as a strong support area. From there, the bulls would look to further elevate the price to 478.67. With continued buying activity, a rally up to the day's high bull target at 483.43 could be seen.

Should NVIDIA fail to hold 470.17 as a strong support in today's session, a bearish perspective takes hold. This would involve testing lower levels, starting with 467.34. If this level breaks under selling pressure, the price might drop to 464.95. A weaker market could further test 461.49, with the day's low bear target set at 458.20.

Final Word: Today's trading session is poised to be influenced by significant data released during premarket hours. This data, along with the upcoming FOMC rate decision in a week, underscores the importance of disciplined trading and adhering to your trade plan. Best of luck in today's market activities!

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.