Pandas Weekly Newsletter 11/10/24
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
$SPX SPY 0.00%↑ saw a really strong continuation move following the election and fomc this past week. If price can manage to defend 6000, we can continue to trend higher. If we begin to lose that area, we’d welcome consoldiation and a base range to get carved out.
Economic Calendar & Earnings
source: investing.com
Notable Earnings: SHOP 0.00%↑ HD 0.00%↑ SE 0.00%↑ CAVA 0.00%↑ DIS 0.00%↑ AMAT 0.00%↑ ISRG 0.00%↑ JD 0.00%↑ OKLO 0.00%↑
Near Term Outlook & Trade Plan
SPX > 6013 targets 6034
SPX 5983 - 6013 = chop zone
SPX < 5983 targets 5937
Pandas Weekly Watchlist
Our Favorite Trade Setup - IWM over 238.49
Contract: IWM 11/13 240c
Levels: 242, 244.50, 246.88
Stop: 236.30
Notes: Saw some consolidation last week after gapping up to new ATHs. Simple setup here to watch for the breakout from this consolidation. Over 238.49 sets it up for a continued run towards the fibonacci level above at 246.88. Under 232.75 puts it into gap fill territory.
Join Our Professional Community!
We provide live commentary, trade alerts, education, and more every day in our discord room! Join risk free anytime here: https://whop.com/panda-options
Want to review our performance first? Here was last weeks performance along with a link to the entire years worth of alert data.
