Pandas Weekly Newsletter 11/12

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

The market saw a couple days of consolidation with the first real dip getting bought up. This led to a strong technical move higher through 4400 that closed on the highs. The market has now established the right side of this recovery bounce and would be best to defend the 4300 area on any large dips to continue the push higher. While this is a good start for the market to move back toward 4600, it’s still early and we (as traders) need to be patient for our setups, not chasing and getting caught in reversals. It’s an important time to remember to take one good trade at a time, follow stops, and stay patient for setups to emerge. CPI this week on Tuesday comes into focus and the S&P has a 40pt implied move.

Economic Calendar & Earnings

notable earnings: HD 0.00%↑ TGT 0.00%↑ WMT 0.00%↑

Near Term Outlook & Trade Plan

SPX 4417 targets 4458

SPX 4385 - 4417 = chop zone

SPX 4385 targets 4325

Pandas Weekly Watchlist

Our Favorite Trade Setup - TSM over 97.75

Contract: TSM 11/17 99c

Levels: 99.98, 104.30, 107.84

Stop: 96 using 15m candle

Notes: TSM 0.00%↑ Coming off a big move from Friday puts it on watch for continuation this week. Breaking an important trend starting from June. If it can get over Fridays highs then its possible to get a push to 99.98 level this week.

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