Market Clubhouse Morning Memo - June 26th, 2023 (Trade Strategy For SPY, QQQ, TSLA, AAPL, AMZN, AMD, And MSFT)

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

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

The SPY SPY has been on a general declining trend since around June 16th, showing volatility in day trading but maintaining a consistent selling pattern. As of Monday's premarket, SPY is managing to stay above our crucial level of 431.78. If the market maintains above this level, we can anticipate a significant shift in SPY's trajectory and aim to reestablish 433.27 as new support.

If the 431.78 level breaks and the selling trend of multiple days carries on, we foresee the bearish traders aiming for 431.04 and 430.05 downwards.

Invesco QQQ Trust Series 1

The QQQs QQQ are holding firmly within the range of 361.41 and 363.23. To see bullish control over today's price movements, we need them to reestablish 363.23 as a support. Our bullish targets for QQQs are 364.65 and 365.59.

If we observe a sell-off among big tech leaders today, we predict a test of 361.41 downwards, with bearish traders testing 360.08 as support. If this level collapses, the market could sell down to 357.94.

Tesla Inc.

Tesla TSLA seems well-positioned for a trade this week. It's currently maintaining our key support level at 250.23. As long as this level and 248.37 remain stable, we will continue to view Tesla positively. The stock is currently bidding in the premarket, attempting to regain the key level of 254.28. If the market remains robust and this level is reestablished as support, we expect the bulls to test the higher level of 257.56.

If bearish traders gain control today, the two crucial levels that need to break downwards are 250.23 and 248.37. If these levels are breached with significant weakness, we anticipate the bearish traders to bring the market to 246.16.

Apple Inc.

Apple AAPL is currently around our critical level of 186.35 in Monday's premarket session. If this level holds as support, we have two upward targets of 186.99 and 187.50.

If the 186.35 level fails downwards, we anticipate bearish traders to drive the price action to 185.86 and 185.53. Further downward pressure could lead to bearish traders testing 184.96.

Amazon.com, Inc.  

Amazon AMZN, a global technology behemoth with diverse interests, is also well-positioned for a trade, with the market maintaining above our key level of 129.23. As long as this level is preserved, our upward target is 131.23.

If the 129.23 level is breached downwards, we can expect bearish traders to test the lower level of 127.76.

Advanced Micro Devices, Inc.

AMD AMD is attempting to regain our key level of 111.90 in Monday's premarket session. If this level is regained and established as support, our upward target is 115.30.

If the 111.90 level faces significant rejection, we anticipate the market to settle back down at our lower support level of 108.34. If 108.34 begins to sell off, we anticipate bearish traders to aim for 104.45 downwards.

Microsoft Corp.

Microsoft MSFT had a varied session last Friday. It's currently at our key support level of 333.46. We'll see if the bulls can regain control today, with upward targets of 335.96 and 337.80.

If bearish traders manage to sell off through 333.46, their downward target would be 331.24.

Final Word: While today's session is relatively data-light, bear in mind that this is the last trading week of Q2. We may still encounter some market volatility, so it's essential to be cautious and use these price levels to guide your trading decisions. Here's to a successful trading day!

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 get early access to the Morning Memo just like this one every single day, hours before it goes to publication. 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.