Pandas Weekly Newsletter 12/10

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 posted its 6th green week in a row. Now the market has reclaimed 4600 ahead of a big week of macro data. CPI FOMC PMI data all get released this week. The theme this week is patience and “wait and see”. We’ve continued to simply follow the trend and will continue to do so but remain cautious heading into this week. If 4600 can hold, we can see a volatile move higher toward 4700. Below 4540 sets up a large pullback and everything in between favors choppy range bound price action.

Economic Calendar & Earnings

source: investing.com

notable earnings:

ORCL 0.00%↑ ADBE 0.00%↑ COST 0.00%↑

Near Term Outlook & Trade Plan

SPX 4600 targets 4634

SPX 4540 - 4600 = chop zone

SPX 4540 targets 4488

Pandas Weekly Watchlist

Our Favorite Trade Setup - LULU over 493.80

Contract: LULU 12/15 500c

Levels: 500, 510.04, 532.25

Stop: 485.82

Notes: Coming off a big move last week following its earnings report makes it a top watch for continuation into this week. The stock managed to reach new ATHs and I’ll be watching closely for calls on a move over Fridays highs at 493.80. Near term targets for this move are 500 psych level and 510.04. If it falls under 485.82 level then its a waiting game until it is back outside Fridays large candle.

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