Pandas Weekly Newsletter 3/3/24
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 another green week! The market continues to close up week after week. We’ve had a 5236 target for a couple weeks now. The market is still in route to this large target over 5000. The market bases either through time or pullbacks and last week we saw 4 choppy days that led to a strong breakout on Friday. There haven’t been many swift pullbacks in several week. Powell testifies this week along with more economic data. We’ll continue to trade the trend until it bends.
Economic Calendar & Earnings
source: investing.com
notable earnings: NIO 0.00%↑ TGT 0.00%↑ JD 0.00%↑ CRWD 0.00%↑ ANF 0.00%↑ ANF 0.00%↑ FL 0.00%↑ KR 0.00%↑ AVGO 0.00%↑ COST 0.00%↑ MDB 0.00%↑ DOCU 0.00%↑ IOT 0.00%↑ DOCU 0.00%↑
Near Term Outlook & Trade Plan
SPX 5137 targets 5150, 5200
SPX 5111 - 5137 = chop zone
SPX 5111 targets 5100, 5080
Pandas Weekly Watchlist
Our Favorite Trade Setup - DIS over 112.92
Contract: DIS 3/8 114c
Levels: 116.10, 120.65, 127.54
Stop: 111.10
Notes: DIS 0.00%↑ has been quiet ever since its gap up on earnings. Trading in a range and closing near the highs of that range last week sets it up for a potential breakout this week. With some momentum over 112.95 we can see a push to 116.10 level.
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