Pandas Weekly Newsletter 12/3
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 5th straight week in a row. We saw price test the 4600 level for the first time, leading to a small rejection that got bought into the close. This week will be all about 4600 and whether price can breakout above toward 4634 or start to see the first pullback in the market in over a month. As the old adage goes, trade the trend until it bends.
Economic Calendar & Earnings
notable earnings: NIO 0.00%↑ MDB 0.00%↑ GME 0.00%↑ AI 0.00%↑ AVGO 0.00%↑
Near Term Outlook & Trade Plan
SPX 4600 targets 4634
SPX 4568 - 4600 = chop zone
SPX 4568 targets 4540
Pandas Weekly Watchlist
Our Favorite Trade Setup - GS over 348.89
Contract: GS 12/8 350c
Levels: 352, 356.40, 360
Stop: 346
Notes: GS 0.00%↑ Breaking out of a trend back to Nov. 25th. 2022. Also breaking from a recent consolidation over the last couple weeks paired with a close over 347.71 level last week. Has a great setup and look to it so I’ll be watching this one for a continuation of this breakout over the highs of Fridays candle.
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