Market Clubhouse Morning Memo - June 29th, 2023 (Trade Strategy For SPY, QQQ, AAPL, NVDA, TSLA, MSFT, And U)
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The Market Clubhouse Morning Memo discusses the trade strategy for SPY, QQQ, AAPL, NVDA, TSLA, MSFT, and U. The memo provides key support levels and potential targets for each stock, based on a proprietary formula that takes into account price, volume, and options flow. The memo also mentions the impact of Federal Reserve Chair Powell's Sintra panel discussion and the stronger-than-expected GDP data and unemployment claims.
June 29, 2023 | 2:48 pm
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NEUTRAL IMPACT
AAPL is approaching a market cap of 3 trillion dollars. If bullish, 189.90 may hold as a key support level with targets of 195 and possibly over 200. If bearish, it may fall to 188.32 and 188.05.
The memo suggests that AAPL's performance will depend on its ability to maintain the key support level. This could lead to either a bullish or bearish outcome.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
MSFT is well-positioned for a trade, holding above level of 335.96. On the upside, it may test 337.80 with a potential maximum bull target of 340.36. If weak, it may fall to 333.46.
The memo suggests that MSFT's performance will depend on its ability to maintain the key support level. This could lead to either a bullish or bearish outcome.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
NVDA has recovered from losses and is hovering above key level of 413.76. If maintained, bullish targets are 419.36 and 421.35. If it struggles, it may fall to 409.31 or 405.18.
The memo suggests that NVDA's performance will depend on its ability to maintain the key support level. This could lead to either a bullish or bearish outcome.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
QQQ is maintaining support at 365.59. If strong, bulls may establish 366.69 as a higher support level and aim for 367.53 and 368.26. If weak, it may fall to 363.23.
The memo suggests that QQQ's performance will depend on its ability to maintain the key support level. This could lead to either a bullish or bearish outcome.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
SPY is battling to secure key support level at 437.92. If maintained, bullish targets are 438.78, 439.66, and potentially 441.06. If it struggles, it may fall to 435.59 or 434.66.
The memo suggests that SPY's performance will depend on its ability to maintain the key support level. This could lead to either a bullish or bearish outcome.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
TSLA is poised for a promising trade as it holds above key level at 259.61. If secure, bulls may target 264.46 and 266.83. If not, it may fall.
The memo suggests that TSLA's performance will depend on its ability to maintain the key support level. This could lead to either a bullish or bearish outcome.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
U is striving to reclaim key level of 45.07. If secured, bulls may target 46.35 and 47.10. If not, it may fall to 43.85 and 42.23.
The memo suggests that U's performance will depend on its ability to maintain the key support level. This could lead to either a bullish or bearish outcome.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100