Market Clubhouse Morning Memo - December 18th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, META, NVDA, TSLA, And GOOGL)

Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, META, NVDA, TSLA, 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 trading around 470.63. Bulls are targeting an initial increase to 471.40. If the market remains robust above this level, the next aim is 472.68. Successfully holding 472.68 could lead to a further rise to 474.04, with an ambitious high target for the day at 475.02.

Conversely, if SPY cannot sustain 470.63 as a support level, a bearish trend might be indicated, initially testing 469.17. If sellers dominate, a further drop to 468.16 is expected. A breakdown of this level could lead to a more substantial support test at 466.80, with the day's most significant bear target at 464.92.

Invesco QQQ Trust Series 1

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

In contrast, if QQQ struggles below 404.76, it could indicate a bearish trend, with initial targets at 403.59 and 402.31. Persistent selling might then challenge 400.95 and 399.67, with the lowest bear target for the day at 398.57.

Apple Inc.

Apple AAPL, currently around 195.67, for bulls, focuses on maintaining this level as support. The goal is to rally to 196.61 and then to 197.69, with an ultimate high bull target set at 198.22.

If Apple fails to sustain 195.67 as support, a bearish trend might emerge, targeting 195.25. Continued selling could lead to 194.29 and further to 193.82, with the lowest bear target for the day at 193.18.

Microsoft Corp.

Microsoft MSFT, positioned at 368.79, in a bullish view, seeks to hold above this level and rally to 370.10. Successfully maintaining this level could lead to targeting 372.03, with the day's high bull target at 373.48.

Conversely, if Microsoft can't sustain 368.79, the bearish scenario involves probing 366.98. A breakdown here might lead to a further decline to 365.35, with continued downward pressure potentially pushing the price to 363.81, and the lowest bear target at 362.81.

Meta Platforms Inc

Meta META, currently around 335.12, for bulls, focuses on remaining above this level and rising to 337.17. Strong buying could further elevate the price to 338.75, aiming for a high bull target at 340.66.

Conversely, if Meta fails to hold 335.12, the bearish trajectory involves a decline to 332.41. Persistent selling might lower the price to 329.83, with the day's most significant bear target at 328.13.

NVIDIA Corporation

NVIDIA NVDA, currently near 489.04, for bulls, aims to rise to 492.33 and establish it as a strong support area. Further advancement could target 495.79, with a high bull target for the day at 499.62.

If NVIDIA cannot hold 489.04, a bearish trend might unfold, starting with testing 483.43. A breakdown of this level could lead to a drop to 478.67, and if the market weakens, further testing at 473.81, with the lowest bear target at 470.17.

Tesla Inc.

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

Conversely, if Tesla fails to maintain 252.38, the bearish view involves a downward test 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.

Alphabet Inc Class A

Alphabet GOOGL, at 132.84, in a bullish case, seeks to maintain this level and move up to 133.78. Continued bullish momentum might push towards a high target of 134.96.

If Alphabet can't sustain 132.84, a bearish trend may lead to a drop to 131.58. Further selling could lead to 130.41, and in a scenario of increased selling, the lowest bear target for the day is 129.52.

Final Word: Today's session will feature the release of the NAHB Housing Market Index for December at 10AM EST, followed by the Treasury's 3 and 6 Month Bill Auction at 11:30AM EST. The session may see volatility as larger market participants engage in positioning trades. Monitor volume closely and trade with discipline. Good luck today!

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