Market Clubhouse Morning Memo - December 18th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META and 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 is currently trading around the key level of 605.41. For the bulls, we want to see a push above this level, aiming for 606.34 as the next potential support. Sustained buying above 606.34 could propel the price higher toward 607.55. If 607.55 holds strong during regular trading hours, the momentum might carry SPY up to 608.35, with the ultimate bull target of 609.33 for the day.

On the bearish side, a failure to hold 605.41 as support could see sellers pushing the price down to 604.45. If 604.45 is broken, expect the next test at 603.38. A breach of 603.38 could open the door for a drop to 602.37. In a scenario of heavy selling pressure, the low bear target for SPY today is 601.22.

Invesco QQQ Trust Series 1

QQQ is trading near 536.95, a critical level for the bulls. To see an upward move, buyers need to establish support at this level. A successful hold above 536.95 could push the price toward 539.02. If the auction remains strong, the next target for buyers would be 540.60. Continued buying strength could test 542.31, with the high bull target set at 543.58 for the session.

Should 536.95 fail to hold as support, bears might take control and aim to bring the price down to 535.30. Further weakness could test 533.70, with additional selling likely leading to 532.52. If this level fails to provide support, expect the price to head toward the low bear target of 530.70.

Apple Inc.

Apple is currently trading around the level of 253.90. For bullish action, buyers need to maintain support above this key level. A successful hold could drive the price up to 255.16, with momentum potentially extending to 256.09. If buyers maintain control, the price may test 257.32, which is the high bull target for today.

On the downside, failure to hold 253.90 as support might trigger a test of 252.13. Continued bearish pressure could drive the price lower to 250.39, with further selling likely bringing 249.04 into focus. If sellers remain dominant, the low bear target for Apple today is 248.12.

Microsoft Corp.

Microsoft is trading near 455.77, a pivotal level for bulls. To gain momentum, buyers need to establish support above 455.77 and aim for 457.25. If sustained buying continues, the next level to watch is 459.18. Continued strength could push the price toward the high bull target of 460.78.

If 455.77 fails to hold during regular trading hours, bears may drive the price toward 453.02. A breach of this level could lead to further downside at 450.26. Persistent selling pressure might test 448.18, with the low bear target for Microsoft set at 446.33.

NVIDIA Corporation
NVIDIA is trading around 134.56, a crucial level for bullish momentum. Buyers will want to see a breakout toward 135.64 and have this level act as support. Sustained strength could see the price rallying to 136.98. If the auction remains strong, NVIDIA may test the high bull target of 138.55 for the session.

On the bearish side, losing 134.56 as support could see sellers testing 133.31. A breach of this level might push the price lower to 132.19. If selling persists, expect a further drop to 131.42, with the low bear target for NVIDIA at 129.53.

Alphabet Inc Class A

Alphabet is currently trading near 196.25. For the bulls, this level must hold as support to spark a move higher. Buyers will target 196.97, and continued strength could see a push to 197.79, the high bull target for the day.

If 196.25 fails as support, sellers might take control and drive the price to 195.41. A breach of this level could lead to further downside action at 194.34. Heavy selling may result in Alphabet reaching the low bear target of 193.14.

Meta Platforms Inc

Meta is trading around the key level of 622.01. Bulls need to maintain this level as support and aim for a move toward 629.88. Continued strength could see a push to 635.49, with bullish momentum possibly reaching the high bull target of 642.59.

If 622.01 breaks as support, bears may push the price lower to 615.65. Sustained selling pressure could bring 609.30 into play. Should this level fail, expect Meta to trade down to the low bear target of 604.50.

Tesla Inc.

Tesla is trading near 471.48, a critical level for buyers. If bulls can push the price higher, we could see a move toward 480.83. Further bullish activity may target 492.46, with continued strength potentially driving the price to 502.25. The high bull target for Tesla today is 511.58.

On the downside, failure to hold 471.48 as support could result in a test of 462.12. A breach of this level might lead to further selling at 454.90. If the bears remain in control, Tesla could see a decline to the low bear target of 448.48.

Final Word: Today's trading session is packed with high-impact events that could drive volatility. At 8:30 AM ET, we'll see the release of November's Building Permits and Housing Starts, critical indicators for the housing market. However, all eyes will be on the FOMC Interest Rate Decision later in the day, where a 25-basis-point rate cut is anticipated.

Beyond the decision, Fed Chair Jerome Powell's press conference will provide insights into the central bank's future monetary policy outlook. Given the weight of today's announcements, traders should brace for heightened market activity. Stay disciplined, manage your risk carefully, and prepare for rapid price swings. Good luck, and trade safely!

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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