Market Clubhouse Morning Memo - July 25th, 2023 (Trade Strategy For SPY, QQQ, MSFT, GOOGL, AAPL, And NVDA)

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

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

Currently, SPY SPY is maintaining a position above our significant level of 454.56. If the price remains robust above this point, our outlook is optimistic. A solid confirmation would be the price holding over 455.14. If today's market shows strong buying power, we anticipate the bulls to dominate, aiming for our higher threshold of 455.90. Our top bullish target is 456.88.

However, if the price struggles to remain above 454.56, we expect the bears to drag the price down to our important level of 453.54. More vigorous selling could bring 452.55 into play.

Invesco QQQ Trust Series 1

Currently, the Q's QQQ are hovering around our significant level of 377.58. We anticipate that bulls will keep the price above this key level today, initially targeting 378.93. If the price can firmly maintain above 378.93, our top target is 380.41.

Conversely, if the price struggles to stay above 377.58, we expect bears to challenge our lower level of 375.18. If this level fails, our low bear target is 373.82.

Microsoft Corp.

Microsoft MSFT is currently showing strength above our key level of 347.85. With earnings being reported after today's closing bell, bulls could control the day, driving up the stock before the earnings report. Bulls should first target 349.67. If the market shows considerable strength above this level, we expect bulls to push higher to 352.26.

If today's price action shows weakness, we anticipate a breakdown of 347.85 with a strength test at 345.90. If bears take charge of today's market, we look forward to a lower test of 343.68.

Alphabet Inc Class A

Currently, Google GOOGL is trading above our key level of 121.86. If the price remains above this level, we could see the stock price rise in anticipation of the earnings report, which is scheduled for after today's bell. The initial target for bulls should be 122.87. If this level is held convincingly, we expect the price to climb to 123.49, with the ultimate bull target being 124.20.

If we see a breakdown of 121.86 today, with evident selling, we anticipate bears to push the price to 120.96. If this level sees heavy selling, our bearish lower target is 120.18.

Apple Inc.

Currently, Apple AAPL is positioned between our identified levels of 193.18 and 193.82. If the price clears 193.82, our target is 194.29, with a top bullish target of 195.25.

If Apple faces a downside risk session, we expect a breakdown of 193.18, with bears aiming for 192.60. Increased selling could bring 192.21 into focus.

NVIDIA Corporation

NVIDIA NVDA is currently sustaining above our important level of 450.04. If today's price maintains above this level, we anticipate bulls targeting 454.09. Strong buying could push the price to our top bullish target of 458.20.

Conversely, if we see a breakdown of 450.04 due to heavy selling, we anticipate a lower strength test at 447.05. Our bearish lower target for NVIDIA today is 442.76.

Final Word: The focus of today's session will be data releases and post-bell earnings reports from Microsoft and Google. Keep a close eye on major tech stocks today. With the FOMC meeting tomorrow, we expect a fair amount of volatility in today's session. Best of 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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