Market Clubhouse Morning Memo - December 12th, 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

SPY is currently trading near our key level of 606.34. For bullish momentum to sustain, we'd like to see buyers push the price to 607.55 and hold this level as support. If 607.55 holds steady, we anticipate further buying pressure could propel the price toward 608.35. Continued bullish action may test the next resistance at 609.33, with 610.63 as the high bull target for the session.

On the flip side, if 606.34 fails to act as support, bears may aim to test the 605.41 level. A break below 605.41 could invite selling pressure, targeting 604.45. If sellers dominate and push lower, 603.38 becomes the next key support. In the case of a strong selloff, the low bear target for today is 602.37.

Invesco QQQ Trust Series 1 QQQ

The QQQ is auctioning around 528.44, our critical level for today. A firm hold above 528.44 could trigger bullish activity, aiming to reclaim 530.70 as a new support zone. With buying strength intact, we expect the price to climb toward 532.52. If the uptrend remains strong, bulls might look to test 533.70, with a potential move to the high bull target of 535.30.

However, if the 528.44 level shows weakness, bears may seize the opportunity to drive the price lower to 527.03. A breakdown below this level could see selling intensify toward 525.19. Persistent selling pressure might further target 523.91, with a drop to 522.57 marking the session's low bear target.

Apple Inc. AAPL

Apple is trading near 246.72, a pivotal level for the day. A bullish stance requires holding 246.72 as support, which could enable a move to 248.12. Sustained upward momentum may bring 249.04 into focus, potentially setting up a test of 250.39, our high bull target for the session.

Should 246.72 fail as a support, we expect bears to press lower to 245.58. If selling persists, 244.45 becomes the next likely target. Continued weakness could lead to a test of 243.57, with the low bear target for Apple today set at 242.83.

Microsoft Corp. MSFT

Microsoft is currently positioned around 446.33, a crucial level to monitor. Bulls need to secure a hold above 446.33 to establish support and push the price toward 448.18. If this level is reclaimed, we could see further upside action targeting 450.26, with the high bull target sitting at 453.02 for today's session.

Conversely, a failure at 446.33 may lead to bearish pressure driving the price to 444.95. A breach of this support could pave the way for a drop to 442.95. If sellers remain active, the next test is at 441.34, with the low bear target for Microsoft resting at 438.72.

NVIDIA Corporation NVDA
NVIDIA is trading near 138.55, a significant level for the bulls to defend. A move above this level could see buyers driving the price to 139.42 and solidifying this zone as support. With momentum, the price could ascend to 140.28, potentially testing 141.21, with 142.35 as the high bull target.

Should 138.55 give way, sellers are likely to target 137.94. Continued bearish activity may test 136.98, and if weakness prevails, we anticipate a further move to 135.64. The low bear target for NVIDIA today stands at 134.56.

Alphabet Inc Class A GOOGL

Alphabet is hovering around 196.25, a critical level for today's action. Bulls will aim to maintain 196.25 as support to drive the price toward 196.97. If momentum builds, we expect a climb to 197.79, marking the high bull target for the day.

If 196.25 breaks as support, bears may take the price down to 195.41. A breach here could prompt further selling to 194.34, with heavy downside pressure potentially targeting 193.14 as the low bear target.

Meta Platforms Inc META

Meta is currently auctioning near 635.49, a key level for bullish continuation. Buyers will want to hold above 635.49 and aim for 642.59. If this level is surpassed, a strong rally may bring 646.48 into play, with the high bull target at 650.56.

On the downside, failure to hold 635.49 could result in selling pressure testing 629.88. If bears remain aggressive, we anticipate a move to 622.01. Sustained downside action could push Meta to a low bear target of 615.65.

Tesla Inc. TSLA

Tesla is trading near 426.23, a level pivotal for today's bullish outlook. Buyers need to reclaim 431.50 and establish it as support to drive the price toward 437.95. Continued strength could lead to a breakout, with 448.48 and the high bull target of 454.90 in sight.

Should 426.23 fail to hold, bears could aim for 420.70. A breakdown of this level may bring 416.62 into focus, and if selling pressure persists, the price could test 413.10, today's low bear target.

Final Word:  Today's trading session features a packed economic calendar, starting with the ECB Rate Decision at 8:15 AM ET. The release of November's PPI Final Demand, along with Initial and Continuing Jobless Claims at 8:30 AM ET, will be closely watched for signs of inflationary pressures and labor market conditions. At 8:45 AM ET, the ECB press conference is expected to provide further insights into European monetary policy, potentially setting the tone for global markets.

Later in the day, the U.S. Treasury will conduct a 4 and 8 week bill auction at 11:30 AM ET, followed by a 30 year bond auction at 1 PM ET. These events are critical for assessing investor sentiment toward U.S. debt and could influence broader market dynamics. Given the range of impactful releases, heightened volatility is anticipated. Traders should remain alert, adapt their strategies to the evolving market landscape, and prioritize risk management. Good luck, and trade wisely!

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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