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, determines these pricing levels. This dynamic equation takes into account the price, volume and flow of options. These levels are updated daily and shared with all Clubhouse Members, before the market opens.
We recommend monitoring these stocks closely and being ready to take advantage of potential breakouts or reversals. As always, stay alert and ready to adapt your tactics based on the pulse of the market to optimize your trading gains. Now let’s dive into stock analysis:
SPDR S&P 500 ETF Trust Fund
The spy TO SPY is currently trading around our specified level of 503.95. Market bulls would prefer to see an upward move to 505.32 initially. If the market remains strong above this level, the next target for buyers will be set at 506.06. Holding this level during regular trading could lead to a further upside move towards 506.71, with an upside target of 507.52 for the day.
On the downside, if SPY fails to hold 503.95 as support, we expect bearish momentum to test 502.85 next. If selling pressure intensifies, the next level to watch is 501.74. A break here could see SPY fall to 500.91, with the day’s lowest downside target at 500.17 if the selling continues unabated.
Invesco QQQ Trust Series 1
The QQQ QQQ, known as “The Q’s”, is hovering around 430.16. The bulls hope that the price will hold above this level, setting the stage for a move to 431.18, which the bulls would like to establish as solid support. Success here could lead to further gains with 432.84 and 433.64 as subsequent targets. The highest bullish target of the day is set at 434.76.
Conversely, if QQQ struggles to stay above 430.16, bears could push the price up to 429.40. A continued downtrend could lead to further tests at 428.50 and then 427.32. If these supports fail to hold, the lower downside target for QQQ today is 426.64.
The Apple company.
Apples AAPL shares are currently trading around 172.45. The bulls are trying to hold this level as a support base, aiming for an upside push to 172.95. If the positive momentum persists, the next target would be 173.39, with the final bullish target of the day at 173.94 if the uptrend strengthens.
If Apple’s price fails to hold at 172.45, we could see a drop to 171.79. Continuation of this downward trajectory could see further declines to 171.13 and 170.32. If the downtrend breaks this level, the lowest downside target of the day will be set at 169.73.
Microsoft Corp.
Microsoft MSFT it is currently positioned around 413.14. Bulls aim to maintain strength above this level, aiming to reach 414.56, which they hope to consolidate as support. If they succeed, the next targets are 416.32 and the highest bullish target of the day at 417.25.
If Microsoft fails to hold the 413.14 level, the price may fall to 411.72. A failure here could see further tests at the lower 410.64 and 409.69 levels. The downside target for the day is set at 408.46 if the downtrend continues.
NVIDIA Corporation
NVIDIA NVDA it is currently trading around 858.43. Bulls aim to push the price up to 865.62 and consolidate it as a strong support level. Success here could lead to targets of 877.25 and 882.97, with the highest bullish target of the day at 890.55.
If NVIDIA fails to hold 858.43 as support, the bears may push the price down to 852.61. A breakdown here could lead to further declines to 846.80 and 842.42. The lowest bearish target of the day is set at 837.58.
Alphabet Inc Class A
Of the alphabet GOOGLE trading begins around 154.44. Bulls are trying to establish strong support at 154.95, aiming for further gains at 155.59. If the uptrend persists, the highest target of the day is 156.61.
If Alphabet fails to hold 154.44 as support, the price could fall to 153.93. Continued bearish momentum could see further tests at 153.54 and the lowest bearish target of the day at 152.94.
Meta Platform Inc
Half HALF starts the day around 498.03. Bulls are eager to hold this level, aiming to push higher to 500.83 and then 504.54. The highest bullish target for Meta today is 508.25 if the bullish momentum continues.
If Meta fails to hold 498.03 as support, bears could push the price up to 495.54. Continued bearish pressure could lead to further declines at 492.33 and the lowest bearish target of the day at 488.81.
Tesla Inc.
Tesla TSLA it is currently trading around 158.92. The bulls are trying to push the price to 160.32 and above to 162.32. Strong buying momentum could potentially lead to a test of 164.87, with an elevated upside target for the day at 166.89.
If Tesla fails to hold 158.92 as support, the price could fall to 157.52. Continued selling could see further declines to 155.78 and the day’s lowest downside target at 152.97.
One final word: Today’s trading session features some key data, including building permits and new construction starts for March and New York Fed service trading activity, all expected on the hour premarket at 8:30 a.m. ET. Later in the session, at 11:30 a.m. ET, the Treasury will conduct an auction of 52-week notes. These events are expected to have minimal impact on market performance today. Market participants should remain vigilant and closely monitor price action, as well as any updates regarding the ongoing conflict in the Middle East. As always, trade with caution and good luck!
The Morning Memo is edited by RIPS, a professional trader with years of experience trading stocks, options and futures. RIPS is at the center of the unique Market Clubhouse community, offering its insights, expertise and mentorship in real time.
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