Pandas Weekly Newsletter 10/8

Every week we review everything you need to know about the stock market for the week ahead as an active or passive trader.

Market Big Picture & Long-Term Technicals

Last week the market took out prior lows before putting in a temporary bottom near 4220 that tested numerous times throughout the week. Bulls defended this spot an impressive 4 times leading to a strong rally into the weeks close near our 4325 pivot. This is an important spot to reclaim. If we do, 4375, 4400 are key targets above.

For data this week we have the fed meeting minutes, PPI and core CPI data to look forward to.

Economic Calendar & Earnings

Top 5 Things to Watch

*provided by investing.com and summarized with chatgpt

1. Inflation Data: The U.S. is set to release consumer and producer price index data for September. High inflation figures may support the Federal Reserve's plan to keep interest rates elevated.

2. Fed Minutes: The Federal Reserve will publish the minutes of its September meeting, and investors are looking for hints regarding potential rate hikes before the year's end. Several Fed officials will also provide insights during the week.

3. Third Quarter Earnings: The third-quarter earnings season begins with major banks like JPMorgan, Citigroup, and Wells Fargo reporting. Investors are eager to see how higher interest rates impact various sectors.

4. Oil Prices: Oil prices experienced significant declines due to concerns about high interest rates affecting global growth and fuel demand. Geopolitical risks in the Middle East could influence oil prices in the upcoming week.

5. IMF and World Bank Meetings: Global finance officials and central bankers gather in Marrakesh for the annual meetings of the IMF and World Bank. These meetings focus on concerns about controlling inflation without causing economic crises. The IMF's World Economic Outlook will also be released.

These events and developments will be closely watched by investors and may have an impact on financial markets in the coming week.

source: (investing.com econ calendar + Top 5 things to watch)

NFLX 0.00%↑ TSLA 0.00%↑ META 0.00%↑

Near Term Outlook & Trade Plan

SPX 4325 targets 4375

SPX 4261 - 4325 = chop zone

SPX 4261 targets 4238, 4220

Pandas Weekly Watchlist

Our Favorite Trade Setup - AMD over 107.87

Contract: AMD 10/13 109c

Levels: 109.50, 111.64, 115.04

Stop: 106.20 using 15m candle

Notes: AMD 0.00%↑ Recently broke out of a major trendline and will be a top watch this week for continuation. Over the high of Friday can be a good entry with it being over the 107.46 level. Over 109.50 can be a better spot for confirmation.

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