Pandas Weekly Newsletter 12/15/24

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 SPY 0.00%↑ maintained a tighter range last week. We brifely broke below the prior weeks low before closing above. This was the first time we breached the prior weeks low in 6 weeks. If we take out last weeks low we are more likely to see continuation to larger suppor near 5970.

Economic Calendar & Earnings

source: investing.com

Notable Earnings: NKE 0.00%↑ GM 0.00%↑ MU 0.00%↑ CCL 0.00%↑

Near Term Outlook & Trade Plan

SPX > 6080 targets 6100, 6130

SPX 6033 - 6080 = chop zone

SPX < 6033 targets 6020, 600

Pandas Weekly Watchlist

Our Favorite Trade Setup - SPY under 602

Contract: SPY 12/18 598p

Levels: 597.81, 593, 585.27

Stop: 605.60

Notes: If SPY 0.00%↑ loses 602 this week it can see a move to test the longer term trend line. The reason I like SPY this week is due to lots of data/economic reports coming out. Simplifying with SPY can make playing these moves easier. For the upside, I was to see SPY reclaim 608.

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Want to review our performance first? Here was last weeks performance along with a link to the entire years worth of alert data.

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