Pandas Weekly Newsletter 11/5

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 we noted how sellers maintained control leading into FOMC week with no relief bounces. We saw a relief rally start at the start of the week that got strong continuation after a dovish fed result. This led to a 250pt+ move to close the week near the highs. We reclaimed 4300 and closed near major resistance around 4389. This was a major move in a short period of time. If price stays below that resistance, I’m expecting some consolidation and a range to be carved out. If we clear it, I’ll be confident in a continuation move first before we slow down and base.

Economic Calendar & Earnings

Top 5 Things to Watch

*provided by investing.com and summarized with chatgpt

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

notable earnings: AMD 0.00%↑ AAPL 0.00%↑ CAT 0.00%↑ COIN 0.00%↑

Near Term Outlook & Trade Plan

SPX 4385 targets 4400, 4417

SPX 4325 - 4385 = chop zone

SPX 4325 targets 4300, 4260

Pandas Weekly Watchlist

Our Favorite Trade Setup - DKNG over 34.21

Contract: DKNG 11/10 35c

Levels: 35.15, 36.57, 38.84

Stop: 33.50 using 15m candle

Notes: DKNG 0.00%↑ Gap up and really nice move following earnings report last week. This makes it a top watch heading into this week for continuation over the highs from last week at 34.21. First important level over last weeks highs is at 35.15. Could see some resistance there but if its able to get through then 36.57 is next.

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