Market Clubhouse Morning Memo - December 22nd, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, TSLA, NVDA, GOOGL, And META)

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

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  is currently trading around our level of 472.68. For the bulls, we aim for an initial ascent to 473.40. Should the market favor the upside, and we maintain strength above 473.40, the next objective is 474.04. If this level proves resilient during regular trading hours, an upward push towards 475.02 is likely, with a high bull target for the day at 476.10.

Conversely, if 472.68 fails to act as a supportive base, the bears might aim to lower the price to test 471.40. Observing a continued sell-off, the next focus shifts to 470.63. A breach here could lead to heavier selling towards 469.17. In a pronounced bearish scenario, our target is a further slide to the day's low bear target of 468.16.

Invesco QQQ Trust Series 1

The Q's QQQ are currently positioned around 406.58. Bulls would look to secure a position above 407.64 initially, and if sustained, aim for 408.80 as a new bastion of support. A continued push might bring 409.44 into play, setting the stage for an attempt at the day's high bull target of 411.80.

If the Q's fail to maintain above 406.58, bears will likely take the reins, driving the price down towards 405.66. A confirmed weakness could see further tests at 404.76 and 403.59. If bearish momentum intensifies, the day may culminate at a low bear target of 403.08.

Apple Inc.

Apple AAPL is orbiting around 194.83. Bulls are eyeing this level to act as solid ground, propelling the price towards 195.67. With continuous bullish sentiment, we might see further rallies to 196.61, with an optimistic end-of-day target at 197.69.

Should 194.83 prove untenable as support, bears are expected to drive the price lower to 194.40. Persisting selling pressure could then lead the market to test 193.95 and, in a more aggressive sell-off, to 193.18, aiming finally for a low bear target of 192.76.

Microsoft Corp.

Microsoft MSFT is trading around the 372.03 mark. For the bulls, holding firm above this level is crucial, aiming next for 373.48 and then targeting 375.11 with a bullish eye on the day's high target of 376.70. This upward trajectory requires sustained buyer activity and market confidence.

Conversely, if 372.03 does not hold as a robust support level during the regular trading hours, we anticipate bears to test the waters at 370.10. A breach of this level might lead to further bearish targets at 368.79 and 366.98, with a decisive bear day potentially ending at 365.35.

Tesla Inc.

Tesla TSLA is currently navigating around 254.28. Bulls are looking for a push upwards, first to 256.34 and then aiming for 257.56. A strong bullish market could lead to higher tests at 259.81, with the day's bullish aspirations potentially reaching 262.68.

If Tesla fails to maintain 254.28 as a solid support, we might see a bearish move towards 252.38. Persistent sellers could further depress prices to 250.25 and, in a significant downtrend, to the day's bearish extreme at 248.37.

NVIDIA Corporation

NVIDIA NVDA is trading near 489.04. The bulls are looking to push the auction up to 492.33, solidifying it as a support level, and then aim higher at 495.79. A continuation of bullish momentum might set the stage for an ascent to the day's high target of 499.62.

If 489.04 fails to hold up as a sturdy base, bears might look to bring the price down to 485.93. A breakdown below this level could lead to further bearish ambitions at 483.43, and in a more pronounced selling scenario, we could see a descent to the day's low bear target of 478.67.

Alphabet Inc Class A

Alphabet GOOGL is presently trading around 140.29. Bulls are hoping to maintain this as a supportive level and push the auction higher to 141.12. A continued bullish trend could potentially elevate the price to the high bull target of 142.53.

If 140.29 fails to serve as a solid footing, bears might press the auction downwards to 139.46. A breach here could open the path to 138.39, and in a strong bearish drive, the price could descend to the day's low target of 137.79.

Meta Platforms Inc

Meta META is currently trading near 353.60. Bulls are looking to keep this level as a stronghold and push higher towards 354.93. A successful buy-side auction could further elevate prices to 356.35, with an ambitious high target for the day at 358.21.

On the other hand, if 353.60 does not hold during the regular trading hours, bears will likely look to lower the price to 351.97. Continued selling pressure might lead to a further slide to 350.18, culminating potentially at a low bear target of 347.67.

Final Word: As we head into the final session before the extended holiday weekend, attention turns to the release of the PCE data for November in the premarket, expected to reflect disinflationary trends similar to recent CPI and PPI reports. Additionally, the final University of Michigan sentiment data will be released after the New York open. It's a day to trade with discipline, watch the volume, and aim to conclude the week positively. Make this Friday count and have a wonderful four-day weekend! Happy Holidays!

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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This article is from an external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.