Market Clubhouse Morning Memo - July 28th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, TSLA, And NVDA)

Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, TSLA, 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 experiencing a premarket uptick on Friday after Thursday's significant sell-off. The price is currently hovering around our crucial 455.14 level. If it manages to stay robust above this mark, we'll continue to hold a bullish stance on the markets. Bulls should aim for 455.90 as support, and if it remains firm, the next target is 456.88, with the day's ultimate bullish aim at 457.86.

Conversely, if the attempts to secure 455.14 falter, we'll watch the lower 454.56 level as a potential support test. If this level crumbles, the bearish target becomes 453.54, with the lowest bearish goal at 452.55.

Invesco QQQ Trust Series 1

The Q's QQQ are maintaining above our 380.41 benchmark. With sustained strength above this level, we anticipate a healthy rebound in mega-cap tech during today's trading. For bulls, the initial upside target is 381.89. If it's held firm, the bulls are expected to reach for 382.93. The ultimate bullish target for the day is 384.36.

However, if 380.41 isn't sustained as strong support and price action rejects it, we predict a bearish descent to our 378.93 level. If aggressive selling causes this level to break, we're looking at a lower target of 377.58. The most bearish goal for the day stands at 375.18.

Apple Inc.

Apple AAPL is aiming to reach our 195.25 key level during Friday's premarket trading. Bulls should strive to keep the auction firmly above this level with an initial upward target of 195.67. If buyers are dominant today, the highest bullish target is 196.61.

If Apple struggles to maintain above 195.25, we predict a bearish pull towards our 194.29 key level. If this level faces heavy selling, we're looking at a bearish dip towards 193.82, with the day's most bearish target at 193.18.

Microsoft Corp.

Microsoft MSFT is trading back at our 333.46 key level. If the auction manages to hold above this level today, we anticipate a rise towards 335.96. If this level remains strong, we expect a bullish surge to 337.80. The day's maximum bullish target is 340.36.

On the other hand, if 333.46 is rejected and fails to hold, we predict a bearish control over the auction, driving the price down to 331.24. With more aggressive selling, we might see the price drop to 328.52.

Tesla Inc.

Tesla's TSLA overnight trading shows an uptick towards our key 259.81 level. Bulls should strive to keep the price action firm above this level, with 262.68 as the upward target. If call options witness flow today, bulls might push towards 264.46. The day's two bullish aims are 266.83 and 269.48.

However, if Tesla sees a sell-off rejecting 259.81, we anticipate a bearish pull towards 257.56. If this level faces aggressive selling, we expect our low target of 254.28 to be reached.

NVIDIA Corporation

NVIDIA NVDA is showing an overnight upward gap above our 464.95 key level. If it remains firm during today's trading, we anticipate a bullish push towards 470.17. The day's maximum bullish target is 473.81.

Conversely, if 464.95 doesn't hold, we anticipate a bearish move towards 461.49. The day's most bearish target is 458.20.

Final Word: Today's trading will largely be about interpreting the premarket data. It's also important to monitor options pricing, as the expiration of all weekly contracts today is likely to induce market volatility. Remember to trade intelligently and with discipline. 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.

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.