Market Clubhouse Morning Memo - December 11th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, TSLA, GOOGL, And META)

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

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 459.42. In a bullish scenario, the aim is to initially rise to 460.28. If stability is maintained above this level, the target moves to 461.27. Holding at 461.27 could lead to a further push towards 462.20, with an ambitious high target for the day at 463.70.

In contrast, if 459.42 fails to serve as a support, a bearish trend might be indicated. The first level to test would be 458.54. Should selling pressure intensify, the next focus shifts to 457.86. If this level is also breached, stronger support at 456.88 may be tested, possibly leading to 455.90, with the most significant bearish target for the day at 455.14.

Invesco QQQ Trust Series 1

The QQQ's QQQ, currently near 391.39, has a bullish outlook aiming for a rise above this level. Holding it could set the stage for reaching 392.77. If the buying strength continues, the levels of 393.96 and then 395.04 might come into play, with a top bull target at 396.81.

Conversely, if the QQQ's struggle to hold above 391.39, the bearish trajectory might lead to 390.09. Weakness here could result in testing 388.80. Persistent selling might further lower the benchmark to 386.69, with an additional test at 387.67 and a low bear target for the day at 386.69.

Apple Inc.

Apple AAPL, hovering around 194.29, for bulls, looks to maintain this level as support. The goal is to rally higher to 195.25 and then to 195.67, with an ultimate high bull target set at 196.94.

If Apple cannot keep 193.82 as support during regular trading hours, a bearish case emerges. This would lead to testing 193.18, followed by a potential decline to 192.21. Increased selling might push the stock down to 191.76, aiming for a low bear day target at 191.25.

Microsoft Corp.

Microsoft MSFT, trading at about 372.85, has a bullish case where the focus is on maintaining above this level and rallying to 373.48. If this level holds, the next target is 375.11, with a high bull target of 375.93.

If Microsoft cannot sustain 372.85 as support, a bearish scenario comes into play. The initial lower level to test would be 372.03. Breaking down this level might lead to a further descent to 371.31, with the most significant bear target for the day at 370.10.

NVIDIA Corporation

NVIDIA NVDA, at 467.34, in a bullish case, is looking to push up to 470.17 and establish it as a strong support. Further upward movement could target 473.81, aiming for a day high bull target at 478.67.

Should NVIDIA fail to maintain 467.34 as support, the bearish scenario sees testing lower at 464.95. A break here could lead to a fall to 461.49, with a weaker auction possibly testing 458.20, and the lowest bear target for the day at 454.09.

Tesla Inc.

Tesla TSLA, positioned around 242.47, in a bullish view, is targeting a rise to 243.98. Continued buying could drive a rally to 246.16, with a possibility of testing higher at 248.37 and a high bull target at 250.25.

In a bearish perspective, if Tesla can't sustain 242.47, a downward movement to 239.92 might be expected. Persistent selling could lead to 238.50, and if this level is breached, the next target is the low bear day end at 235.74.

Alphabet Inc Class A

Alphabet GOOGL, trading near 133.78, has a bullish aim to hold this as a support level and advance to 134.96. Continuous positive momentum might push towards a high bull target of 135.66.

On the bearish side, if Alphabet fails to keep 133.78 as support, a move to 132.84 could be seen. Further selling might bring the level down to 131.58, with an extended bearish target for the day at 130.41.

Meta Platforms Inc

Meta META, currently around 332.41, in the bullish scenario, seeks to maintain strength above this level and rise to 335.12. A robust buy-side move could elevate the price to 337.17, targeting a high bull end at 338.75.

Conversely, if Meta doesn't hold 332.41 as support, the bearish trajectory involves a decline to 329.83. Increasing selling pressure could further push it to 328.13, with the day's lowest bear target at 325.51.

Final Word: Today's session has a light data schedule, with the New York Fed Survey of Consumer Expectations and several Treasury Bill and Note auctions. The focus is primarily on large funds positioning ahead of Wednesday's FOMC rate decision. Monitor relative volume closely and maintain a vigilant trading strategy. 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.

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.