Pandas Weekly Newsletter 1/28/24

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 continued its breakout over all time highs this week tagging the 4900 pyschological level this week. We saw many earnings reports come out and have more to welcome this week. There has been an overall positive reaction to earnings so far this season. Along with more earnings this week we have a big week for economic data. See below for a full list of economic headlines coming this week.

The focus this week will be on individual names with catalysts in between macro data. Once macro data is released, it can be beneficial to simplify by trading overall market SPY 0.00%↑ or QQQ 0.00%↑ depending on the movement.

SPX Levels above: 4977, 5000, 5236, 5524, 5800.

Economic Calendar & Earnings

source: investing.com

notable earnings: GM 0.00%↑ UPS 0.00%↑ JBLU 0.00%↑ MSFT 0.00%↑ AMD 0.00%↑ GOOGL 0.00%↑ SBUX 0.00%↑ BA 0.00%↑ MA 0.00%↑ QCOM 0.00%↑ AAPL 0.00%↑ AMZN 0.00%↑ META 0.00%↑ XOM 0.00%↑ CVX 0.00%↑

Near Term Outlook & Trade Plan

SPX 4900 targets 4977

SPX 4880 - 4900 = chop zone

SPX 4880 targets 4860, 4844

Pandas Weekly Watchlist

Our Favorite Trade Setup - CELH under 51.68

Contract: CELH 2/2 51p

Levels: 50.12, 48.86, 45.06

Stop: 53

Notes: CELH 0.00%↑ is a setup we’ve been watching for a week now since its drop to 51.68. It has had some time to consolidate now and is better setup for a move lower if its able to break under 51.68. A break under 51.68 and it can move quick to the next level at 50.12.

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