TSLA - Market Clubhouse Morning Memo - April 5th 2024 (Trade Strategy For SPY QQQ AAPL MSFT NVDA GOOGL META and TSLA) | Benzinga
Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
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, 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 (NYSEARCA: SPY) The SPY is trading around our reference point of 514.62. For upward momentum, a move towards 515.68 is desirable. Should the market sustain levels above this, we anticipate an advance towards 516.58, which could act as a new base for buyers. Once 516.58 is firmly held, the aim would be to exceed 517.39, setting the stage for reaching our highest bull target for the day at 518.04. This would signal strong bullish control.
On the flip side, if the SPY fails to maintain support at 514.62, we would expect the bears to challenge the 513.76 level. A breach here would likely lead to a test of 512.91. Should the selling intensify, pushing past 512.91, we foresee a descent to 512.26. A particularly bearish session could extend losses to our day's low target of 511.69, indicating significant bearish momentum.
Invesco QQQ Trust Series 1 (NASDAQ: QQQ) The QQQ finds itself navigating around 436.58. Bulls are keen on pushing beyond 437.47 to secure a foothold. Holding above this level could open the path towards 438.89, marking a bullish progression. Should the buying pressure continue, we would look for the market to approach 440.00, potentially stretching to 440.78. The highest bull target envisioned for the day is 441.56, representing a significant bullish outcome.
Conversely, should the QQQ struggle to hold above 436.58, bears might target 442.53 for a downturn. A confirmed weakness could lead to a further slide to 441.56. Continued bearish pressure might see the QQQ testing 440.78. If this support gives way, we could see a move down to our bearish endpoint for the day at 440.00, highlighting a bear-dominant session.
Apple Inc. (NASDAQ: AAPL) Apple's stock is currently positioned around 169.73. Bulls are looking to consolidate at 170.32, eyeing a climb towards 171.13. Sustaining this bullish momentum could see ...
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