Good morning, traders! Welcome to the Market Clubhouse Morning Memo, where we analyze key stocks for today, including SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA. Our proprietary formula, exclusive to Market Clubhouse, identifies critical price levels based on price, volume, and options flow. These levels are updated daily and shared with all Clubhouse members before the market opens. Stay vigilant for potential breakouts or reversals.
SPDR S&P 500 ETF Trust (SPY)
Current Price: $569.98
- Bullish Target: Watch for a move to $571.06. If this holds, a potential rally to $572.15 and a target at $574.65 could follow.
- Bearish Outlook: If it breaks down, watch for a test of $569.16, potentially leading to $567.81, $566.46, and a low target of $565.38.
Invesco QQQ Trust Series 1 (QQQ)
Current Price: $483.95
- Bullish Target: A hold here could see a rise to $486.10, with further targets at $487.69, $490.05, and $491.82.
- Bearish Outlook: Failure to hold could lead to targets at $481.73, $479.03, $476.85, and a low target of $474.66.
Apple Inc. (AAPL)
Current Price: $222.96
- Bullish Target: Maintain support at this level to aim for $223.87, leading to $225.31 and a high target of $226.08.
- Bearish Outlook: If it breaks down, watch for $222.24, potentially leading to $221.66 and a low target of $220.29.
Microsoft Corp. (MSFT)
Current Price: $407.11
- Bullish Target: If it holds, expect a push to $408.46, potentially rising to $409.69 and $410.64.
- Bearish Outlook: A breakdown could lead to targets of $406.01, $404.92, and a low target of $401.39.
NVIDIA Corporation (NVDA)
Current Price: $129.53
- Bullish Target: Support here could drive prices to $131.42, with further targets at $132.19, $133.31, and a high target of $134.56.
- Bearish Outlook: If it fails to hold, expect targets at $128.10, $126.84, $125.21, and a low target of $123.41.
Alphabet Inc. Class A (GOOGL)
Current Price: $163.79
- Bullish Target: A hold at this level could see a rise to $165.41 and eventually $167.04.
- Bearish Outlook: A breakdown may target $161.79, leading to $160.36 and a low target of $158.54.
Meta Platforms Inc. (META)
Current Price: $591.29
- Bullish Target: Bulls need to maintain this support to push towards $598.17, potentially hitting $604.50 and a high target of $609.30.
- Bearish Outlook: A failure at this level could lead to $585.73, $580.17, and a low target of $573.25.
Tesla Inc. (TSLA)
Current Price: $242.49
- Bullish Target: If support holds, look for a push to $243.98, potentially rising to $246.16 and a high target of $250.25.
- Bearish Outlook: A breakdown could lead to targets of $239.92, $238.50, and a low target of $235.74.
Economic Data and Fed Speeches
Today’s trading session is light on economic data. Key events include:
- 10 AM ET: October RCM/TIPP Economic Optimism Index (consumer confidence insights).
- 1 PM ET: U.S. Treasury’s 3-Year Note Auction (investor sentiment clues).
- 12:45 PM ET: Fed member Raphael Bostic speaks, potentially signaling Fed outlook changes.
- 4 PM ET: Non-voting member Susan Collins speaks.
Trading Strategy
With fewer catalysts today, expect more technical-driven moves. Stay nimble and watch for shifts in price action and volume.
Join Market Clubhouse
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For a limited time, you can join RIPS and access Market Clubhouse for 7 days for just $7 at https://marketclubhouse.club/7Days/. Don’t miss RIPS live day trading streams every Monday-Friday at 8 AM EST on the Market Clubhouse YouTube channel: https://www.youtube.com/@MarketClubhouse.
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