Good Morning Traders! In today’s Market Clubhouse Morning Memo, we will discuss SPY, TSLA, AAPL, NVDA, and META.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members during our daily Morning Call, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market’s pulse to optimize your trading gains. Now, let’s dive into the stock analysis:
SPDR S&P 500 ETF Trust
At present, SPY (ARCA: SPY) is situated between our established channels of 434.66 and 435.59. The recent CPI print has almost assured us of a Fed pause at tomorrow’s FOMC meeting. On the bullish front, we’re keenly observing a definite hold of our level of 435.59. If this level is maintained with strength, our upward targets are 437.02 and 437.92.
Conversely, if the market dips today and we see 434.66 being pushed to the downside, our bearish targets are 433.75 and 433.27.
Tesla (NASDAQ: TSLA) is presently trading within our channel of 250.23 and 252.38. If today’s session breaks out to the upside with a strong buying momentum, our upper target of 254.28 could be hit. Exceptional buying during the session might even push 257.56 into view.
In a softer session met with sellers, we’re observing 246.16 as the potential support test.
Apple (NASDAQ: AAPL) experienced a minor sell-off in the post-market session but has since regained stability at our crucial level of 182.27. If this level persists, we’re aiming to reclaim 183.38 as a new support on the upside. Beyond that, we’re hoping for the bulls to target 184.09.
If Apple’s trading leans towards the sell-side today, we’re hoping to see support recaptured at our lower levels of either 181.25 or 180.60.
NVIDIA (NASDAQ: NVDA), the global tech giant, is currently trading just shy of our pivotal level of 402.12. If this level is surpassed to the upside, we are aiming for a target of 405.18 on the upside.
If the tech sector and the broader market begin to tumble, we’re keeping an eye on 399.46 to fail on the downside, and a bear target of 394.89.
Meta Platforms Inc
Meta (NASDAQ: META), formerly named Facebook, Inc., an American multinational technology conglomerate, is presently holding firm above our crucial level of 273.68. As long as this level sustains, we’re aiming for 276.76 on the upside.
If the market takes a turn for the worse, we have two bearish targets on the downside at 269.53 and 267.54.
Final Word: Today is the eve of the FOMC and the market is processing the CPI print. We could witness a significant amount of volatility in today’s session as a pause at tomorrow’s meeting is nearly certain. Stay alert today and ensure that you’re trading within your capacity. Best of luck!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
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This article Market Clubhouse Morning Memo – June 13th, 2023 (Trade Strategy For SPY, TSLA, AAPL, NVDA, And META) originally appeared on Benzinga.com.