Market Clubhouse Morning Memo - December 13th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META and TSLA)

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

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, 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 trading near the 606.34 level, which is a critical area for the bulls to defend. If buyers can push the price beyond 607.55 and hold that level as support, we anticipate a further rally towards 608.35. Sustained buying momentum above 608.35 could open the door to a test of 609.33. Should this strength persist, the high bull target for today stands at 610.63.

Conversely, if the 606.34 level fails to hold as support, bears are likely to take the price lower to test 605.41. A breakdown below this level could see the auction heading towards 604.45. If selling pressure intensifies, we expect further downside, potentially reaching 603.38. The low bear target for the session is set at 602.37.

Invesco QQQ Trust Series 1 QQQ

The QQQ is hovering around the 530.70 mark, with bulls aiming to hold this level as a foundation for upward momentum. Should the price hold firm above 530.70, buyers could target 532.52 as the next area of interest. If this level is reclaimed and sustained, the price may advance towards 533.70. With continued strength, a test of 535.30 is plausible, and the high bull target for the day sits at 536.95.

On the flip side, a failure to maintain 530.70 as support could lead to bearish activity driving the price down to 528.44. Sellers may aim to challenge the 527.03 level if downside pressure persists. Further weakness could expose 525.19 as the next key level, with the low bear target of 523.91 in sight for today's session.

Apple Inc. AAPL

Apple is trading close to 248.12, a pivotal level for determining today's direction. If buyers can hold 248.12 as support, the stock could see an upward move toward 249.04. Sustained bullish momentum may push the price higher to 250.39. In a strong uptrend, Apple could reach 252.13, the high bull target for the day.

However, if 248.12 fails as support during regular trading, sellers may take control, driving the price lower to 246.72. Continued bearish momentum could lead to a test of 245.58. If selling intensifies, 244.45 becomes the next critical level, with 243.57 set as the low bear target for the session.

Microsoft Corp. MSFT

Microsoft is currently positioned near 450.26, with bulls looking to hold this level and push higher. If buying pressure prevails, the next target for bulls is 453.02. A hold above 453.02 could propel the stock toward 455.77. Should the uptrend continue, 457.25 serves as the high bull target for the day.

In the event that 450.26 is lost as support, bears may aim to test 448.18. A breakdown below this level could lead to further selling pressure, bringing 446.33 into focus. If the bearish momentum continues, the price might test 444.95, with 442.95 acting as the low bear target for today's trading session.

NVIDIA Corporation NVDA
NVIDIA is auctioning near 138.55, a key level for gauging bullish interest. If the price can hold above 138.55, bulls are likely to target 139.42. Sustained buying activity could drive the price higher to 140.28, with additional momentum potentially taking the stock to 141.21. The high bull target for today is set at 142.35.

If NVIDIA struggles to hold 138.55, bears could push the price lower to test 137.94. A breakdown at this level might result in a move toward 136.98. Should selling pressure remain strong, 135.64 is the next key level, with 134.56 marking the low bear target for today's session.

Alphabet Inc Class A GOOGL

Alphabet is trading near 191.45, a critical level for bulls to establish as support. If buyers can maintain control above this level, the price may rise toward 192.19. A sustained rally could extend to 193.14, marking the high bull target for today.

On the other hand, if 191.45 is breached, bears are likely to push the price lower to test 190.41. A failure to hold this level could lead to further declines toward 189.57. If bearish momentum persists, the low bear target of 188.73 becomes a potential objective.

Meta Platforms Inc META

Meta is trading around 629.88, with bulls aiming to hold this level to support an upward move. If buyers prevail, the next target is 635.49, with the potential for a continued rally toward 642.59. A strong bullish session could see the price testing 646.48, the high bull target for the day.

Should 629.88 fail as support, bears are likely to drive the price lower to 622.01. Continued selling pressure could bring 615.65 into play. If the auction remains weak, the price may drop to the low bear target of 609.30 for the session.

Tesla Inc. TSLA

Tesla is currently trading near 420.70, with bulls aiming for a breakout. If buyers manage to push the price higher, 426.23 becomes the next level of interest. Sustained buying pressure could see Tesla advancing toward 431.50. If the broader market supports a bullish rally, the price might test 437.95, with 448.48 as the high bull target.

On the downside, a failure to hold 420.70 could lead to a test of 416.62. If selling pressure intensifies, bears might aim for 413.10. Should this level give way, Tesla could drop to the low bear target of 407.97.

Final Word:  Today's session offers traders a relatively calm economic calendar, with the primary focus on the Import Price Index for November at 8:30 AM ET. Although no major economic events are scheduled, it's important to stay vigilant, as low-news days can amplify reactions to unexpected developments or shifts in market sentiment.

Additionally, traders should keep an eye on market volume, intraday volatility, and options activity, especially as weekly contracts approach expiration. These factors can lead to sharp and sudden price moves. Stay disciplined, manage risks effectively, and approach the market with caution. Have a great session and enjoy the weekend!

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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