Pandas Weekly Newsletter 8/13

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

Last week was a volatile choppy week spent within a range between 4448-4528. This was the second week of a market pullback after several weeks spent in an uptrend. Heading into this week, we have a very simple gameplan. Under 4448 sets up a test a larger support between 4400-4374. Over 4527 sets the market back up for a 4600 test. If price stays within the range between 4448-4528, we can see continued choppy and noisy price action.

Economic Calendar & Earnings

source: (investing.com)

Notable Earnings: HD 0.00%↑ CAVA 0.00%↑ TGT 0.00%↑ JD 0.00%↑ WMT 0.00%↑ DE 0.00%↑ XPEV 0.00%↑

Near Term Outlook & Trade Plan

SPX 4478 targets 4500, 4528

SPX 4448 - 4478 = chop zone

SPX 4448 targets 4420, 4400

Pandas Weekly Watchlist

Our Favorite Trade Setup - AMD under 106.48

Contract: AMD 8/18 105p

Targets: 104.60, 102.41, 100

Stop: 108 using 15m candle

Notes: AMD 0.00%↑ is set up nicely for a bigger move soon. It broke an important support last week at 107.46 so if Fridays lows break then it looks good for 104.60, 102.41. A reclaim of 109.24 sets it up for a bounce as a failed breakdown and then can see a move back to 115.32.

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