Pandas Weekly Newsletter 2/19/24

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 basing around 5000 after the CPI dip was bought up. If 5000 can’t hold this week we are in for some digestion. We have a number of fed speakers this week and job data that could create more movement. While the market looks positioned to take a breather, we will continue to react to what we get and follow trend until it bends. If we clear the highs we’re enroute for 5100.

Economic Calendar & Earnings

source: investing.com

notable earnings: WMT 0.00%↑ HD 0.00%↑ NVDA 0.00%↑ RIVN 0.00%↑ ETSY 0.00%↑ MRNA 0.00%↑ SQ 0.00%↑ CVNA 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 - ROKU under 71

Contract: ROKU 2/23 70p

Levels: 69.18, 65.30, 62.15

Stop: 73.50

Notes: ROKU 0.00%↑ Gapped down on earnings last week and closed near the lows. A break under the lows from Friday sets it up for a move lower towards 65.30. There is still a gap to fill at 59.89 from November. If it can break the first target of 69.18 then a gap fill is definitely possible but may take more time to make that large of a move.

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