Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, AAPL, TSLA, NVDA, MSFT, GOOGL, and AI. 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 (NYSE:SPY) President Biden signed the bill increasing the debt ceiling on Saturday, June 3rd. The unpredictability surrounding the bill's passage and its subsequent impact on market volatility has now been resolved and removed from the equation. As of Monday morning, futures are trading mostly flat in the premarket, following an exceptionally bullish, risk-favoring session on Friday.

We currently find SPY within our channel with our levels of 427.08 and 428.62. We're looking to see the SPY claim 428.62 and treat this level as a baseline support. If this level becomes support the two upside bull targets we have are 429.28 and 430.05.

If the auction is soft today and there is weakness, expect 427.08 to be tested to the downside. If 427.08 breaks down, we're looking to find strength at the bear targets of 425.75 and 424.52.

Apple Inc.

(NASDAQ:AAPL) Multinational technology company, is set to commence its Worldwide Developers Conference today at 1PM ET, where it's anticipated to unveil the much-anticipated mixed reality headset. Reports and rumors suggest that the device may carry a hefty price tag of up to $3,000, incorporating both augmented and virtual reality technologies. Given the level of attention focused on a company like Apple, its stock typically experiences a boost from bullish buying activity. The company also has the chance to leverage its AI technology, Siri, and potentially announce enhancements. However, if the conference falls short of expectations, the buying momentum can swiftly evaporate, potentially leading to a bearish selling trend in the stock.

We are closely monitoring Apple with the expectation that it will maintain support at the 182.27 mark. Our immediate upward projection involves the stock surpassing its all-time high of 183.38. Should Apple successfully establish 183.38 as a new support level, it could pave the way for an optimistic "blue sky" scenario, aiming for targets of 185, 190, and potentially higher.

Should the anticipated headset announcement fail to impress, or even worse, not occur at all, Apple's stock might experience a sell-off. We're setting initial downward targets at 181.25 and 180.60. If the company's outlook causes widespread disappointment, further bearish targets could dip as low as 179.36.

Tesla Inc.

For the bulls, the ideal scenario involves reclaiming the 217.78 price point. If this level is bought up and maintained with support, there is a considerable gap to the next target of 223.86 on the upside. While reaching this target will require substantial buying power, the forthcoming launch of the Cybertruck could stimulate enough buyer interest to support this tremendous level of bullish activity.

If 217.78 acts as resistance and there are sellers present, we want to see how 214.08 is tested to the downside. If we see further selling on the tape, our downside targets are 211.53 and 209.51.

NVIDIA Corporation

If any of these upside targets prove to be levels of topping resistance, we're targeting 384.49 as a level of support to the downside. If this level breaks, our deep bear target is 378.23.

Microsoft Corp.

Microsoft (NASDAQ:MSFT) , a tech titan, is currently holding on to the support level of 333.46 in Monday's premarket session. We want to see this level to continue to hold as support. Our two upside bull targets for Microsoft are 335.96 and 337.80.

However, if we see 333.46 start to crack to the downside, we expect to see 331.24 tested as a new level of support. Aggressive sellers could force the auction to test our low bear target of 328.52.

Alphabet Inc Class A

If we struggle to hold onto the 124.20 level, we fully expect Google to revisit our downside target of 122.87 as support.

C3.ai Inc.

C3.ai (NYSE:AI), represented by the ticker AI, once again is holding our level of 30.93 as support. The longer this stock holds this level, the more likely it is that we see a meaningful leg up in the price action. The upside targets for C3 AI are 32.65 and 34.61.

If we do see C3 AI having some trouble holding on to the support level of 30.93, the sellers could bring the price lower to 29.87. A failure at this level would bring our bear target of 28.26 in sight.

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.