Market Clubhouse Morning Memo - July 26th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, GOOGL, And NVDA)

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

SPY SPY is currently positioned above the crucial level of 454.56. As long as this holds, a bullish sentiment prevails. Confirmation comes if it surpasses 455.14. If today's activity indicates strong buying interest, we anticipate the bullish trend to drive the price towards our upper target of 455.90. If the FOMC's interest rate decision and subsequent plans are positively received, we could see a spike towards 458.54 and potentially 460.28. In an optimistic scenario, SPY might reach 462.20.

On the other hand, if it fails to remain above 454.56, we expect a bearish trend pulling the price towards 453.54. If the market reacts negatively to the FOMC's decisions, our bearish target lies at 450.23 and further down at 449.42. In a worst-case scenario, SPY could drop to 445.08.

Invesco QQQ Trust Series 1

The QQQs QQQ are hovering around our significant level of 377.58. If the price remains above this, we foresee a bullish trend with an initial target of 378.93. If the market reacts positively to the FOMC decision, the upper targets are 381.89 and 382.93. In the best bullish scenario, we could witness the QQQs touching 385.55.

Conversely, if the price fails to stay above 377.58, we anticipate a bearish run towards our lower target of 375.18. If the market negatively perceives the FOMC's decisions, the price might drop to 373.82. In the bleakest scenario, QQQs could fall to 370.08.

Apple Inc.

Apple AAPL currently sits within our range of 193.18 to 193.82. The FOMC interest rate decision today could introduce significant volatility. High targets are set at 195.25 and 195.67. A strong session could see Apple crossing our crucial level of 196.61, with potential to reach 197.45.

However, if the market doesn't appreciate today's interest rate decision, Apple may face a sell-off. The day's low targets are 191.76 and 191.25. A significant selling pressure could push the price down to 189.52.

Microsoft Corp.

Post earnings report, Microsoft's MSFT shares took a dip and are now attempting to regain our key level of 339.02. If buyers rally, the target is set at 341.41. A positive response to the FOMC rate decision could see bullish activity towards 345.90 and potentially 347.85.

However, if the sell-off continues, support might be tested at 335.96. A negative response to the FOMC decision might lead to a further drop towards 331.24.

Alphabet Inc Class A

Google's GOOGL shares have surged over 6% thanks to a robust earnings report and an optimistic future outlook. If this buying momentum persists, the bulls might push towards 131.28 initially, with an upper target of 134.96.

But if sellers dominate, the stock might be tested at 128.91. Significant selling pressure could drive the price down to 126.96.

NVIDIA Corporation

NVIDIA NVDA is sustaining above our key level of 458.20. If today's session remains strong, the bulls might attempt to reach 461.49. In case of an exceptionally bullish scenario, the price could be driven up to 464.95.

However, if the price fails to maintain above 458.20, bearish activity might pull it down towards 454.09. Significant selling could push it further down to 450.04.

Final Word: The focus for today's trading session is on the FOMC rate decision and Jerome Powell's subsequent press conference. It is crucial to stay alert as today might bring exceptional volatility. Maintain discipline, manage your trade sizes wisely and stay focused. Best of luck!

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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