Pandas Weekly Newsletter 9/10

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 the market trading inside the prior weeks range. We continue to base between a larger range between 4325-4600 on a high timeframe. The overall health of the market has remained positive and trending higher. Once the market breaks back through 4600 we should see a continuation toward all time highs, possibly later this year. With weaker seasonaility currently active in the market, bulls want to continue defending 4325. If this weekly level is lost in the coming weeks, price favors a larger pullback to 4162.

Economic Calendar & Earnings

source: (investing.com)

Notable Earnings: ORCL 0.00%↑ ADBE 0.00%↑

Near Term Outlook & Trade Plan

SPX 4458 targets 4488

SPX 4422 - 4458 = chop zone

SPX 4422 targets 4400, 4385

Pandas Weekly Watchlist

Our Favorite Trade Setup - GOOGL over 136.57

Contract: GOOGL 9/15 138c

Levels: 137.30, 138.30, 139.32

Stop: 135 using 15m candle

Notes: GOOGL 0.00%↑ has a nice looking setup on the daily with a recent backtest at the 133.72 level. It managed to hold and test 136.57 Friday. A move over this level looks good for continuation higher towards 138.30, 139.32 levels next. One of the better looking tech names on my radar currently so if market bounces, it has potential to perform better than some other tech names.

We provide live commentary, trade alerts, education, and more every day in our discord room. Watch the video below to see inside our room before you consider joining! Join anytime here: https://discord.gg/4CXuRRzwHU

---