Pandas Weekly Newsletter 2/10/24

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 continues to push higher week after week. The S&P has closed green14 weeks out of the last! We’re starting to approch some traditionally more bearish seasonailty. Let’s see if the market gets a breather over the coming sessions. If not, it’s important to remember to trade the trend until it bends. We have more earnings this week and then CPI coming on Tuesday. We’ll see if this shakes anything up a bit.

Economic Calendar & Earnings

source: investing.com

notable earnings: ANET 0.00%↑ WM 0.00%↑ SHOP 0.00%↑ DDOG 0.00%↑ KO 0.00%↑ ABNB 0.00%↑ UPST 0.00%↑ HOOD 0.00%↑ LYFT 0.00%↑ MGM 0.00%↑ TWLO 0.00%↑

Near Term Outlook & Trade Plan

SPX 5030 targets 5050, 5100

SPX 5000 - 5030 = chop zone

SPX 5000 targets 4975

Pandas Weekly Watchlist

Our Favorite Trade Setup - NFLX over 567.80

Contract: NFLX 2/16 575c

Levels: 575.37, 580, 593.29

Stop: 563

Notes: NFLX 0.00%↑ Has been consolidating quietly since its earnings gap up and is starting to look like its ready to make another move. A break over 567.80 can be the signal to start it. More confirmation if it can get over 575 level. On a break to the upside, 593.29 level can come quick.

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