Pandas Weekly Newsletter 11/26
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 closed higher the 4th straight week in a row to end the holiday week. Price is now between 4460 support and 4600 resistance with virtually no dips yet. If we see the market dip early in the week I’d anticipate a bit of a range to get carved out here. This would likely create a more healthy breakout attempt at 4600 whereas if we test direct it favors a larger rejection.
Economic Calendar & Earnings
notable earnings: SNOW 0.00%↑ CRM 0.00%↑ OKTA 0.00%↑
Near Term Outlook & Trade Plan
SPX 4568 targets 4600
SPX 4540 - 4568 = chop zone
SPX 4540 targets 4520, 4500
Pandas Weekly Watchlist
Our Favorite Trade Setup - TSLA under 230.72
Contract: TSLA 12/1 227.5p
Levels: 226.37, 220, 216.78
Stop: 233
Notes: TSLA 0.00%↑ has been trading in a range between roughly 242 and 230. Closing near the lows of this range last week puts it on watch for puts if it an break below the 230.72 level. Calls can work over 244. Would prefer to give it a little more room for confirmation on an upside play. Over 244 it can test the trendline.
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