Pandas Weekly Newsletter 11/19
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 saw a strong move on CPI with a couple days of range bound price action to follow. What stood out about the range established after CPI was the defense around 4500. The market was very resilient and avoided major dips. OPEX was on Friday where we saw very trappy chop on the lower timeframe that ultimately resolved higher into the weekly close. This week is a holiday week with abbreviated hours.
The market is closed on Thursday in observance of Thanksgiving and then closes early on Friday at 1pm est. We will be hosting a Black Friday sale and a closer look at our Inner Circle this week so keep an eye out for more details later in the week.
Economic Calendar & Earnings
notable earnings: LOW 0.00%↑ BBY 0.00%↑ NVDA 0.00%↑
Near Term Outlook & Trade Plan
SPX 4519 targets 4540
SPX 4488 - 4519 = chop zone
SPX 4488 targets 4421
Pandas Weekly Watchlist
Our Favorite Trade Setup - QQQ over 388
Contract: QQQ 11/21 390c
Levels: 390.20, 393.61, 400.99
Stop: 386
Notes: QQQ 0.00%↑ Consolidating between 384 and 388 levels most of last week so its high on watch for a move out of this range. A break over 388 sets it up for a move to 390, 393.61 next. On the other side, puts can work on a break below 383 targeting 380.69, 378.
We provide live commentary, trade alerts, education, and more every day in our discord room. Watch the video below to see inside our room before you consider joining! Join anytime here: https://discord.gg/4CXuRRzwHU