Market Clubhouse Morning Memo - August 29th, 2023 (Trade Strategy For SPY, QQQ, AAPL, MSFT, META, GOOGL, And NVDA)
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The Market Clubhouse Morning Memo discusses the trade strategy for SPY, QQQ, AAPL, MSFT, META, GOOGL, and NVDA. The memo provides key price levels for each stock, based on a proprietary formula that takes into account price, volume, and options flow. The memo suggests potential bullish and bearish scenarios for each stock.
August 29, 2023 | 2:23 pm
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NEUTRAL IMPACT
AAPL is trading below a key level of 180.60. Bulls need to reclaim and hold 180.60 as support. If the price falls below 179.36, a drop to 178.61 and then 178.18 could occur.
The memo provides key price levels for AAPL and suggests potential bullish and bearish scenarios. This could impact the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
GOOGL is trading around a key level of 131.76. Bullish action aims for 132.22. If 131.76 fails to hold, a bearish move to 131.28 is expected.
The memo provides key price levels for GOOGL and suggests potential bullish and bearish scenarios. This could impact the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
META is trading around a key level of 288.87. Bullish action aims for 291.19. If 288.87 can't hold, a bearish move to 286.94, and potentially to 285.10 and 284.18, is expected.
The memo provides key price levels for META and suggests potential bullish and bearish scenarios. This could impact the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
MSFT is trading above a key level of 321.51. Bullish action aims for a rally target of 323.17. If 321.51 fails as support, a bearish target of 318.48 is expected.
The memo provides key price levels for MSFT and suggests potential bullish and bearish scenarios. This could impact the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
For NVDA, the key level for bulls is 464.95. If buyers dominate, the first target is 470.17. If 464.95 fails to hold, a bearish move to 458.20 is expected.
The memo provides key price levels for NVDA and suggests potential bullish and bearish scenarios. This could impact the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
QQQ is trading around a key level of 366.69. Bullish scenario aims for an initial rise to 367.52. If sellers dominate, a decline to 365.59 and then to 364.65 is expected.
The memo provides key price levels for QQQ and suggests potential bullish and bearish scenarios. This could impact the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
SPY is hovering around a pivotal level of 442.61. Bullish traders are looking for a rally towards 443.42. If momentum continues, the price could rise to 443.90. If 442.61 fails to act as support, a downward move to 442.04 and then 441.62 is anticipated.
The memo provides key price levels for SPY and suggests potential bullish and bearish scenarios. This could impact the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100