Market Clubhouse Morning Memo – June 8th, 2023 (Trade Strategy For SPY, META, NVDA, MSFT, AAPL, NFLX, And TSLA)

Good Morning Traders! In today’s Market Clubhouse Morning Memo, we will discuss SPY, META, NVDA, MSFT, AAPL, NFLX, and TSLA.

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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:

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SPDR S&P 500 ETF Trust

SPY (ARCA: SPY), a prominent ETF tracking the S&P 500, underwent a significant sell-off yesterday. This appears to be a potential ripple effect of the Bank of Canada’s unexpected decision to increase their rates by 25 basis points. Fears that the US Fed might follow suit in the forthcoming FOMC meeting, which is less than a week away, might have triggered a widespread sell-off in the SPX and NDX.

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Currently, SPY is maintaining support at the critical level of 426.37. However, if this level fails, we have another solid support level at 425.75 for SPY. If today witnesses heavy selling and our 425.75 support level is compromised, we could look to the bear target of 424.52.

On the other hand, if the bulls make a comeback in today’s auction, we aim to reclaim 427.08 on the upside with strength. Our bullish targets are 427.71 and 428.62.

Meta Platforms Inc 

Meta (NASDAQ: META), formerly named Facebook, Inc., an American multinational technology conglomerate, faced a sell-off along with a number of large tech companies during Wednesday’s session. As of Thursday’s premarket session, it is holding our 261.11 level as support. If this level is breached to the downside, we expect the bears to aim for 258.52, with more intense selling leading to 255.98.

If the bulls manage to reclaim 263.19 today, our upside targets for Meta are 267.54 and 269.53.

NVIDIA Corporation

NVIDIA (NASDAQ: NVDA), the global tech giant, displayed significant weakness during Wednesday’s trading. Currently, the stock is struggling to regain strength to reclaim our 378.23 level as support. If NVIDIA continues to resist this level, we hope to see 370.79 become the base support for the stock. If today sees heavy selling and that support fails, we anticipate the bears to settle at 366.22.

However, if today witnesses a sentiment reversal and bullish buyers emerge, expect 378.23 to be reclaimed with an upside target of 384.49.

Microsoft Corp. 

Microsoft (NASDAQ: MSFT), a tech titan,  experienced a drastic sell-off yesterday, struggling to find support throughout the session. Currently, it is hovering between our channels of 321.51 and 323.17. If Microsoft breaks through 321.51, we anticipate the bears to test 320.05. Persistent selling could lead to testing 318.48 as new support.

If Microsoft can find buyers to reclaim 323.17 as support, we are targeting 326.05 on the upside.

Apple Inc. 

Apple (NASDAQ: AAPL) is currently holding at our critical support level of 177.31. If this level is maintained today, we expect the broader market to halt the sell-off. For the bulls, a clear reclaim of 178.61 is desired, with further upside targets of 179.36 and 180.60.

If the overall market weakens today, expect 177.31 to give way with a downside target of 176.29.

Netflix Inc.

Netflix (NASDAQ: NFLX) is an American subscription video on-demand over-the-top streaming service, currently maintaining support at our key level of 399.30, with a slightly lower support band at 397.67. If these levels fail to the downside, the bears should anticipate 393.76 as the new support level.

If the bulls take control today, we foresee an upside target of 406.47. Additional buying could push it as high as 413.64.

Tesla Inc.

Tesla (NASDAQ: TSLA) , the renowned EV manufacturer, is currently demonstrating resilience at our key support level of 223.86. If this support holds strong during the early session, we anticipate the bulls to target our levels of 227.58 and 230.65.

If the bears dominate today’s auction and break the downside support of 223.86, our primary target for initial support is 222.19. If that level succumbs to intense selling pressure, we anticipate the auction to drop to 220.52, with a potential ultimate bear target of 219.39.

Final Word: Today is another day with scant data. While the Initial Jobless Claims were somewhat higher than expected, the continuing claims compensated by coming in below estimates. Today’s session could be rather directionless and volatile. With only two trading days remaining in the week and a heavy week of trade ahead, it’s crucial to let the market trends guide your actions rather than trying to impose your trades on the market. Best of luck with your trading today!

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.

Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will get early access to the Morning Memo just like this one every single day, hours before it goes to publication. For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at where you can trade live with him and tap into his wealth of knowledge and experience.

This article Market Clubhouse Morning Memo – June 8th, 2023 (Trade Strategy For SPY, META, NVDA, MSFT, AAPL, NFLX, And TSLA) originally appeared on

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