Market Clubhouse Morning Memo - August 22nd, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, META, And NVDA)
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The Market Clubhouse Morning Memo discusses the trade strategy for SPY, QQQ, AAPL, MSFT, META, and NVDA. The memo provides price levels for these assets 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 22, 2023 | 1:35 pm
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POSITIVE IMPACT
Apple showcased an overnight upward gap, positioning itself just above the 176.84 benchmark. On the upside, 177.31 emerges as the initial point of interest.
The memo suggests that Apple has started the day with an upward gap and could see further gains if it holds above the 176.84 benchmark.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Meta trades beneath the pivotal 293.91 level. Bulls aim to regain this level, setting sights on 295.97 and potentially 297.33.
The memo suggests that Meta is currently trading beneath the pivotal 293.91 level and could see an upward move if it regains this level.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Microsoft is currently trading slightly beneath the 326.05 support. Bulls would aim to secure and maintain this level, potentially catalyzing an upward move.
The memo suggests that Microsoft is currently trading slightly beneath the 326.05 support level and could see an upward move if it secures and maintains this level.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
NVIDIA opened significantly higher this Tuesday premarket. The key for bulls today is to secure 478.67. A bullish dominance could aim for 482, and with sustained buying, targets of 485.00 and 490.00 become viable.
The memo suggests that NVIDIA has opened significantly higher in the premarket and could see further gains if it secures the 478.67 level.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
QQQ kicked off Tuesday's overnight and premarket trade with an upward gap and currently oscillates around the pivotal 366.69 level. Bullish sentiment will thrive if 366.69 remains intact as support.
The memo suggests that QQQ has started the day with an upward gap and could see further gains if it holds above the pivotal 366.69 level.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
SPY opened higher in overnight trading and has displayed remarkable momentum in the premarket. It hovers just below the pivotal mark of 442.04. A sustained break and hold above 442.04 will be vital for bullish traders.
The memo suggests that SPY has strong buying momentum and could see an upward push if it breaks and holds above the pivotal mark of 442.04.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100