Market Clubhouse Morning Memo - May 24th, 2023 (Trade Strategy For SPY,TSLA, AMZN, MSFT, and NVDA)
Portfolio Pulse from RIPS
Market Clubhouse focuses on SPY, TSLA, AMZN, MSFT, and NVDA ahead of the May FOMC meeting minutes release today at 2:00 PM EST, which may cause market turbulence. The analysis provides price levels and potential breakouts or reversals for each stock.
May 24, 2023 | 1:36 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Amazon had a mixed session yesterday and reclaimed 115.94. If this level holds, bull targets are 117.15 and 118.05. Downside target is 114.98 if 115.94 breaks down.
Amazon's price direction is uncertain, with potential breakouts or reversals depending on market conditions. The FOMC minutes release may impact the stock's direction.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Microsoft had a massive sell-off yesterday and is now between 313.61 and 316.04. If 313.61 is breached, downside target is 311.91. Upside target is 318.48 if 316.04 is reclaimed.
Microsoft's price direction is uncertain, with potential breakouts or reversals depending on market conditions. The FOMC minutes release may impact the stock's direction.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
NVIDIA gave up recent gains and holds support at 303.20. If this level holds, upside target is 307.12. Downside targets are 300.63 and 298.82 if 303.20 fails.
NVIDIA's price direction is uncertain, with potential breakouts or reversals depending on market conditions. The FOMC minutes release may impact the stock's direction.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
SPY sold off hard yesterday due to debt ceiling discussions. It currently rests between 412.07 and 412.97. Market volatility expected around 2:00 PM EST with FOMC minutes release.
The FOMC minutes release may cause market turbulence, impacting SPY's price. The current price levels suggest potential breakouts or reversals, but the overall direction is uncertain.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Tesla had a significant sell-off yesterday and is now between 182.53 and 184.10. If the session remains weak, downside targets are 181.37 and 179.68. Bull target is 186.10.
Tesla's price is currently uncertain, with potential breakouts or reversals depending on market conditions. The FOMC minutes release may impact the stock's direction.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100