Market Clubhouse Morning Memo - August 31st, 2023 (Trade Strategy For SPY, QQQ, GOOGL, MSFT, AMZN, And NVDA)
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Market Clubhouse's Morning Memo discusses trade strategies for SPY, QQQ, GOOGL, MSFT, AMZN, and NVDA. The memo provides price levels based on a proprietary formula considering price, volume, and options flow. It suggests potential bullish and bearish scenarios for each asset, with specific price targets. The trading session is expected to be influenced by data releases and anticipation of the Non-Farm Payrolls report.
August 31, 2023 | 1:56 pm
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NEUTRAL IMPACT
AMZN is trading around a key level of 135.39. Bulls aim for a rally to 135.97, while a failure to hold 135.39 could lead to a bearish move towards 134.60.
The article provides specific price targets for AMZN, indicating potential bullish and bearish scenarios. The stock's performance will depend on market conditions and the ability to hold or breach the key level.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
GOOGL is trading above a benchmark of 136.29. Bulls aim for a rally to 137.79, while a breach of 136.29 could lead to a bearish trend towards 134.96.
The article provides specific price targets for GOOGL, indicating potential bullish and bearish scenarios. The stock's performance will depend on market conditions and the ability to hold or breach the benchmark.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
MSFT is trading above a key level of 328.52. Bulls aim for a rally towards 331.24, while a failure to hold 328.52 could lead to a bearish move towards 326.05.
The article provides specific price targets for MSFT, indicating potential bullish and bearish scenarios. The stock's performance will depend on market conditions and the ability to hold or breach the key level.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
NVDA is trading below a key level of 495.79. Bulls aim for a rally towards 500.00, while a failure to reclaim 495.79 could lead to a bearish trend towards 489.04.
The article provides specific price targets for NVDA, indicating potential bullish and bearish scenarios. The stock's performance will depend on market conditions and the ability to hold or breach the key level.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
QQQ is trading around a key level of 377.58. A bullish scenario could see a surge to 378.93, while dominance by sellers could lead to a decline to 375.98.
The article provides specific price targets for QQQ, indicating potential bullish and bearish scenarios. The stock's performance will depend on market conditions and the ability to hold or breach the key level.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
SPY is hovering around a pivotal level of 452.55. Bullish traders look for a rally reaching 453.54, while a failure to hold 452.55 could lead to a downward trend.
The article provides specific price targets for SPY, indicating potential bullish and bearish scenarios. The stock's performance will depend on market conditions and the ability to hold or breach the pivotal level.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100