Pandas Weekly Newsletter 1/15/24

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 reclaimed 4700 early in the week and then closed up near 4800. There were a couple of failed breakout attempts over 4800 but bulls managed to avoid larger dips from sustaining lower. Each dip was bought back up and set up a strong weekly close. This week we have Retail Sales, Jobless Claims and Home Sales to look forward to along with more bank earnings. If the market can break above 4800 early on Tuesday, we should see an all time high test before the market catalysts kick off.

Economic Calendar & Earnings

source: investing.com

notable earnings: GS 0.00%↑ TSM 0.00%↑ PPG 0.00%↑

Near Term Outlook & Trade Plan

SPX 4793 targets 4818

SPX 4740 - 4793 = chop zone

SPX 4740 targets 4700

Pandas Weekly Watchlist

Our Favorite Trade Setup - META over 377.06

Contract: META 1/19 380c

Levels: 380, 384.33, 390

Stop: 374.50

Notes: META 0.00%↑ has been one of the leaders among the big tech names over the last week and is set up for a new ATH break. ATHs is currently sitting at 384.33. If its able to get over last weeks high of 377.06 then its possible to see it test ATHs this week.

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