Market Clubhouse Morning Memo - August 1st, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, And AMZN)
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The Market Clubhouse Morning Memo discusses trading strategies for SPY, QQQ, AAPL, MSFT, and AMZN. The memo provides key price levels for each asset, based on a proprietary formula that takes into account price, volume, and options flow. The memo suggests that traders should monitor these stocks closely and be prepared to leverage potential breakouts or reversals.
August 01, 2023 | 3:32 pm
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NEUTRAL IMPACT
Apple continues its recent trend, fluctuating between 195.67 and 196.61. If the lower level breaks, a lower test at 195.25 is expected.
The memo suggests that Apple's stock price is fluctuating within a certain range. If the lower level breaks, it could test a lower price. This could impact the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Amazon is presently trading just above the key level of 132.94. If aggressive selling occurs here, the bears may target 131.99.
The memo suggests that Amazon's stock price is trading just above a key level. If aggressive selling occurs, it could lead to a lower price target. This could impact the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Microsoft is hovering just above the key level of 333.46. Weak trading that breaks this level may lead bears to target 331.24.
The memo suggests that Microsoft's stock price is hovering just above a key level. If this level breaks, it could lead to a lower price target. This could impact the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Nasdaq ETF (QQQ) is experiencing a sell-off. Continued weakness under 381.89 is key. If buyers emerge, a reclaim of 381.89 is the first upside target.
The memo indicates that QQQ is experiencing a sell-off. If this continues, it could reach a key downside level. This could negatively impact the ETF's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The SPY ETF is trading lower. If the sell-off persists, it could reach a key downside level of 455.90. If SPY bounces, the bulls must regain control at 456.88.
The memo suggests that SPY is currently trading lower. If the sell-off continues, it could reach a key downside level. This could negatively impact the ETF's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100