Pandas Weekly Newsletter 12/8/24
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%↑ closed near the highs again this week as the year end rally continues. If the market can clear 6100 we can run to 6130, 6180 next. If the market starts closes below the prior daily bar we can start to see the market reset with a dip back to 6000.
Economic Calendar & Earnings
source: investing.com
Notable Earnings: AI 0.00%↑ ORCL 0.00%↑ MDB 0.00%↑ PL 0.00%↑ GME 0.00%↑ PLAY 0.00%↑ ADBE 0.00%↑ AVGO 0.00%↑ COST 0.00%↑ RH 0.00%↑
Near Term Outlook & Trade Plan
SPX > 6100 targets 6130
SPX 6072 - 6100 = chop zone
SPX < 6072 targets 6053, 6035
Pandas Weekly Watchlist
Our Favorite Trade Setup - DOCU over 107.86
Contract: DOCU 12/20 110c
Levels: 111.36, 116, 122.96
Stop: 102
Notes: Gapping up last week coming off its earnings report. This is a top watch for us this week as a continuation play. Setup is simple. Using the high from last week of 107.86 as an entry. If it trades inside Fridays price action, it can be choppy as it digests/consolidates.
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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.
